lululemon (LULU) Shares Surge 9% Following Q2 Beat and Raise

lululemon athletica (NASDAQ: LULU) shares are trading more than 9% higher after-hours following the company’s reported Q2 results, with EPS coming in at $1.65, better than the Street estimate of $1.18. Quarterly revenue grew 61% to $1.5 billion, beating the consensus estimate of $1.33 billion.

The company provided its Q3 outlook, with expected EPS of $1.33-$1.38 and revenue of $1.4-1.43 billion, both better than the consensus estimates of $1.32 and $1.32 billion, respectively.

For the full 2021-year, the company expects EPS to range from $7.38 to $7.48, versus the consensus of $6.91, and revenue to be between $6.19 billion and 6.26 billion, versus the consensus of $5.94 billion.

According to Calvin McDonald, CEO of the company, lululemon launched new products, experienced strength across channels and geographies, and announced new partnerships that will make the company a leader in product sustainability.

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