Lululemon shares surge on earnings, revenue beat as shoppers keep spending on workout apparel

Lululemon shares surge on earnings, revenue beat as shoppers keep spending on workout apparel

A Lululemon Athletica store in Pasadena, California.

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Lululemon shares jumped nearly 9% in extended trading Wednesday after the athletic apparel maker reported fiscal second-quarter profit and revenue that topped analysts’ expectations.

The retailer also offered a better-than-expected outlook for the third quarter and for the year.

Here’s how the company did compared with what Wall Street was expecting, using a Refinitiv survey of analysts:

  • Earnings per share: $1.65 adjusted vs. $1.19 expected
  • Revenue: $1.45 billion vs. $1.34 billion expected

Lululemon shares are up about 9% year to date. Recently, the stock has traded down from an all-time-high of $417.85, which it hit late last month. Lululemon’s market cap is nearly $50 billion.

Find the full earnings press release from Lululemon here.

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