By Ben Levisohn
Shares of Lululemon Athletica ( LULU) are soaring after the yoga-wear retailer announced better-than-expected earnings.
Lululemon reported an adjusted profit of 56 cents a share, beating forecasts for 52 cents, on sales of $619 million, beating analyst expectations for $610 million. Lululemon also said it would earn between $2.45 and $2.48 in fiscal 2017, ahead of the Street consensus for $2.41.
It was the third quarter in a row that Lululemon has beaten earnings forecasts–and its stock looks like it’s headed for a nice gain on the news, just like it did the last two times it reported. On Aug. 31, Lululemon gained 7.2%, according to Sentieo data, while its stock jumped 11.5% on June 1.
Shares of Lululemon Athletica have gained 6% to $71.75 at 4:23 p.m. today.
More at Barron's Stocks to Watch blog, http://www.barrons.com/stocks-to-watch
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