The Globe and Mail reports in its Tuesday edition that Lululemon signalled Monday it had a good Christmas, despite facing a proxy battle. A Canadian Press dispatch to The Globe reports that Lululemon expects its net revenue and diluted earnings per share for its fourth quarter to come in at the high end of its guidance. Chief financial officer Meghan Frank said the update is based on Lululemon's performance over the holiday season. The retailer had previously forecast revenue in a range of $3.5-billion to $3.56-billion and diluted earnings per share between $4.66 and $4.76 for the fourth quarter (all figures U.S.). The company made no changes to its outlook for gross margin, selling, general and administrative expenses, or the effective tax rate. The announcement comes as Lululemon is facing intense criticism just as it prepares to shake up its management. On Dec. 11, chief executive officer Calvin McDonald announced he will step down from his role at the end of January. Mr. McDonald took the helm in 2018 and was responsible for the company expanding further into men's wear and signing several sports league partnerships. Lululemon founder Chip Wilson has regularly attacked management for poor decision-making.