Lululemon's quarterly results beat Wall Street's expectations, sending shares higher.
Lululemon issued upbeat guidance for the new fiscal year.Mike Blake | Reuters
Shares of Lululemon jumped 11% in after-hours trading following the report. Through Tuesday's close, the stock is about flat for the year, putting the company's market value at $40.87 billion.ended Jan. 29, compared with Wall Street expectations based on a survey of analysts by Refinitiv:Revenue: $2.77 billion vs. $2.7 billion expected
"Looking ahead, we remain optimistic regarding our ability to deliver sustained growth and long-term value for all our stakeholders," said Chief Financial Officer Meghan Frank in a statement. "We believe that it is one of the few companies in the space that has a very long pathway for growth, and it's also a very highly visible one," said Rick Patel, managing director at Raymond James.
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