Lululemon Athletica jumped to an all-time high Thursday after the athletic apparel retailer blew past Wall Street’s second-quarter forecasts and raised its sales and profit guidance.
Vancouver, Canada-based Lululemon earned $1.65 per share in the period, easily topping analysts’ forecast of $1.19 per share. Lululemon also exceeded sales projections in the period and raised its full-year sales forecast to as much as $6.26 billion, ahead of Wall Street estimates.
"We launched exciting new products, experienced strength across channels and geographies, and announced new partnerships that will allow us to become a leader in product sustainability,” said CEO Calvin McDonald.
Lululemon, which had been known mostly for yoga tights, expanded its reach last year, buying the interactive workout company Mirror as the world worked out at home during the pandemic.