Lululemon Reports Earnings Beat Sending Shares Higher

Luxury fitness apparel company Lululemon reported quarterly earnings this week that revealed earnings and sales topping estimates from analysts.

The company also said that same-store sales increased 15% in the second quarter while expectations only called for 12.2%.

Shares were up as much as 5% in after-hours trading on Thursday.

The company also increased its full-year outlook with CEO Calvin McDonald saying he sees “significant runway” ahead, as the company continues to push into new categories.

Lululemon’s sales for its men’s business had seen a growth of 35%, outperforming women’s apparel and digital sales were up 31%.

Revenue in North America also climbed 21%.

For the second quarter, Lululemon reported earnings per share of 96 cents while analysts epected 89 cents. Revenue at $883.35 million was ahead of the $846.83 million waited for.

Looking ahead, the company expects full-year net revenue to fall between $3.80 billion and $3.84 billion, compared with a prior range of $3.73 billion to $3.77 billion.

It expects full-year earnings per share to be in a range of $4.63 and $4.70, up from a range of $4.51 to $4.58.

Lululemon shares are up more than 54% so far this year.

Disclaimer: We have no position in Lululemon Athletica inc. (NASDAQ: LULU) and have not been compensated for this article.