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

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

Net income for the three-month period ended Aug. 30 rose to $208.1 million, or $1.59 per share. That’s up from $86.8 million, or 66 cents per share, a year earlier. Excluding one-time items, the company earned $1.65 per share. That’s better than the $1.19 that analysts polled by Refinitiv had been looking for.

Revenue rose 61% to $1.45 billon from $902.9 million in the year-ago period. That was ahead of expectations for $1.34 billion.

Sales in North America rose 63% year over year and were up 49% internationally.

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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