Why Lululemon Athletica Shares Are Skyrocketing Friday

Lululemon Athletica Inc LULU shares are trading higher by 10.26% to $324.66 Friday morning after the company reported better-than-expected second-quarter EPS and sales results and issued third-quarter and FY22 EPS and sales guidance above estimates.

What Happened?

Lululemon reported second-quarter revenue of $1.9 billion, up 29% year-over-year. The revenue total came in ahead of a Street estimate of $1.76 billion, according to data from Benzinga Pro.

Adjusted earnings per share in the second quarter were $2.20, beating a Street estimate of $1.86. Lululemon reported comparable sales up 23% year-over-year in the second quarter... Read More

See Also: US Adds 315,000 Jobs In August, Clearing The Path For Another Aggressive Interest Rate Hike

According to data from Benzinga Pro, Lululemon has a 52-week high of $485.82 and a 52-week low of $251.51.