Lululemon Surges After Third-Quarter Earnings Top Estimates
- Sales in holiday quarter have ‘improved’ after rocky start
- Yogawear maker overcoming widespread discounting, slow traffic
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Lululemon Athletica Inc. soared the most in more than eight years after third-quarter earnings blew past analysts’ estimates and sales showed signs of strengthening as the yogawear maker heads into the holiday season.
Profit in the quarter was 47 cents a share, excluding some items, the Vancouver-based company said in a statement Wednesday. Analysts estimated 43 cents on average. Sales also beat projections in the period, which ended Oct. 30.