Why Lululemon Athletica Stock Soared to a Record High Today

Shares of Lululemon Athletica (NASDAQ:LULU) leaped 10.5% to a new closing high of $420.71 on Thursday, following the release of the athletic apparel retailer’s second-quarter results. 

So what

Lululemon’s net revenue surged 61% year over year to $1.5 billion, as shoppers returned to its stores in droves. Sales at its company-operated stores rocketed 142% to $695.1 million, marking a sharp rebound from its pandemic lows when coronavirus-related store closures weighed heavily on its results. 

“Our performance in Q2 was driven by a strong response to our product offering, improving productivity in our stores, and sustained strength in e-commerce,” CFO Meghan Frank said in a press release.

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