Lululemon Shares Gain the Most in Six Months on Upbeat Forecast
- Company tops third-quarter estimates and boosts its forecast
- Nike, Under Armour had raised concerns about the industry
An employee restocks clothes on display at the Lululemon Athletica Inc. sports apparel store on Regent Street in London.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Lululemon Athletica Inc. rose the most in six months after boosting its forecast, allaying fears that the athleisure market has lost a step.
The yoga-pants maker now expects earnings of as much as $2.48 a share this year, excluding some items. That compares with a previous range of up to $2.42. Lululemon also topped analysts’ estimates with its third-quarter sales and profit.