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Lululemon Jumps to the Top of the S&P 500 After Earnings. Here's Why

Lululemon Athletica Inc. experienced a significant surge in its stock price, becoming the top performer in the S&P 500 following its latest earnings report. The company reported a 24% increase in revenue for the fiscal fourth quarter, reaching $2.77 billion, which was well above Wall Street's expectations. This growth was driven by a 27% increase in comparable store sales and a 15% rise in direct-to-consumer sales. Lululemon also raised its full-year guidance for 2023, projecting revenue to be between $9.3 billion and $9.41 billion, with earnings per share expected between $11.50 and $11.72. The company's success is attributed to strong demand for its products, effective inventory management, and expansion into new markets, particularly in China. Additionally, Lululemon's focus on men's apparel and international growth has contributed to its robust performance, leading analysts to increase their price targets for the stock.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/investing/stocks/lululemon-jumps-to-the-top-of-the-s-and-p-500-after-earnings-heres-why ]