Lululemon Athletica Stock Stretches 20% on Profit Forecast

When Lululemon Athletica first started, it was a small company approaching a small niche market of yoga enthusiasts. Nowadays, you can walk down the halls of Metrotown or the streets of the Yaletown without encountering someone wearing the company's signature wide-band stretchy pants.

And the company's burgeoning success is showing. After boosting its third-quarter profit forecast and hiking the expected sales growth for its stores, shares in Lululemon Athletica (TSX:LLL) shot up about 20 per cent. The stock hit an all-time high of $49.75 on Tuesday before falling back down to $48.14 to close the day.

Compare these figures to the initial public offering at US$18 per share and its TSX debut at $28.99 in late July. That's some massive growth if you ask me. They feel that earnings will continue to increase thanks to even more sales growth and the strength of the Canadian dollar.

Source: Canadian Press

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Lululemon Athletica Stock Stretches 20% on Profit Forecast

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