Stocks were up on Lululemon (LULU) after the fitness clothing brand beat estimates for the eighth straight quarter. The Canadian sportswear line initiated a turnaround back in 2013 to focus on product quality, following an extensive recall of sheer yoga pants. The athleisure brand reported earnings of $0.34 per share, beating analyst estimates. Revenue was up on last year’s numbers and also came in higher than expected at $423.5 million. Lululemon boosted its revenue and earnings outlook for 2015 after sales rose 6 percent to $423.5 million. The company is now expecting yearly profit of $1.86 to $1.91. Revenue was previously expected to reach between $1.97 billion and $2.02 billion. The more optimistic outlook is now expecting $2 billion to $2.05 billion in revenue for 2015. Lululemon Athletica stock has gone up around 38 percent over the last year. The yoga wear brand is now doubling down on its efforts to expand its range of men’s apparel to take on competitors such as Under Armour (UA) and Nike (NKE). Menswear sales were up around 15 percent for the quarter, showing promising growth in the sector.
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