Why Is Everyone Talking About Lululemon Stock?
Lululemon's (NASDAQ: LULU) stock rallied nearly 7% on Sept. 2 in response to its strong second-quarter earnings report. The athletic apparel retailer's revenue rose 29% year over year to $1.87 billion, beating analysts' expectations by $100 million. Its comparable-store sales increased 23%, or 25% on a constant currency basis.
Its adjusted net income rose 30% to $281 million, or $2.20 per share, which also easily cleared the consensus forecast by $0.34. Those growth rates generated a lot of positive buzz on Wall Street, since they indicated that Lululemon was well insulated from the inflationary and supply chain headwinds that had been crushing many other apparel retailers.
Source Fool.com