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.
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Source Fool.com
