Lululemon Athletica Inc. (LULU) shares rose more than 6% late Wednesday after the apparel retailer reported third-quarter earnings and sales above Wall Street expectations and total comparable sales growth came in well above forecasts. Lululemon said it earned $59 million, or 43 cents a share, compared with $68 million, or 50 cents a share, in the year-ago period. Revenue rose 14% to $619 million, compared with $544 million a year ago. Analysts polled by FactSet had expected adjusted earnings of 52 cents a share on sales of $610 million. Total comparable sales rose 8%. The analysts surveyed by FactSet expected same-store sales to rise 5.3%. Lululemon also announced that its board of directors has approved a new stock repurchase program for up to $200 million. Lululemon shares ended the regular session up 2%.
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