Lululemon Athletica's (NASDAQ: LULU) stock jumped 11% on June 2 after it posted its latest earnings report. For the first quarter of fiscal 2023, which ended April 30, the yoga apparel and activewear retailer's revenue rose 24% year over year to $2.0 billion, exceeding analysts' expectations by $80 million. Its net income grew 53% to $290 million, or $2.28 per share, which also cleared the consensus forecast by $0.29.

Those headline numbers were impressive. But even after its post-earnings pop, Lululemon's stock remains 24% below its all-time high of $477.91 in November 2021. I believe this resilient growth stock could easily reach that level again -- possibly even surpass it -- over the following 12 months for seven simple reasons.

Image source: Getty Images.

Continue reading

Source Fool.com