Lululemon Stock Surges 10% After Smashing Wall Street Expectations – What’s Next for the Retail Giant?
San Francisco, California – Lululemon Athletica Inc. surpassed Wall Street expectations in its first fiscal quarter, reporting earnings per share of $2.54 compared to the anticipated $2.38 and revenue of $2.21 billion compared to an expected $2.19 billion. Despite this positive performance, the company’s stock soared by 10% in extended trading on Wednesday. As part of its financial update, Lululemon also announced plans to add $1 billion to its stock buyback program. CEO Calvin McDonald …