(Reuters) – Canadian athletic apparel maker Lululemon Athletica Inc on Monday raised its forecast for fourth-quarter profit and revenue, driven by strong sales during the holiday season.

The company now expects earnings of $1.72 to $1.74 per share, compared with $1.64 to $1.67 per share estimated previously.

Revenue is expected to be in the range of $1.14 billion to $1.15 billion from its previous forecast of $1.12 billion to $1.13 billion.

The November and December holiday shopping season are important for retailers as they record a significant portion of their annual sales and profit during the period.

Lululemon has been investing in expanding its online presence and offering more menswear to lure customers in a highly competitive retail industry, dominated by the likes of Under Armour Inc, Nike and Gap Inc.