Here's My Top Growth Stock to Buy Now
Seeking out businesses that increase their sales and profits at a rapid clip is an appealing investment strategy that could help to achieve stock market outperformance over the long term. The thinking is that if a company is able to boost its top and bottom lines, then it must be out-competing rivals in its industry -- clearly a positive sign -- and investors will come to appreciate the stock more.
Lululemon Athletica (NASDAQ: LULU) is a great example. The popular athleisure company continues thriving in what has been a difficult macroeconomic environment. Here's why it's my top growth stock to buy now.
Lululemon recently reported its fiscal 2022 third quarter financial results with revenue of $1.9 billion (up 28% year over year) and net income of $255.5 million (up 36%) both exceeding Wall Street estimates. Same-store sales, which look at revenue from locations that have been open for at least 12 months, jumped 22% compared to Q3 2021.
Source Fool.com
