Lululemon's earnings crushed expectations and the stock is jumping
The company announced earnings for the fourth quarter of $0.85 per share, stronger than expectations of $0.80 per share. In addition, Lululemon generated $704 million in revenue against expectations of $693 million from analysts.
"In 2015, we made bold moves across the organization, elevating design and innovation and developing our infrastructure to position us for the future," said CEO Laurent Potdevin in the earnings release. "As I look forward to 2016 and beyond, I am excited and confident that we have the right team in place to execute on our long term strategies."
The company also saw same store sales rise 11% in the fourth quarter, much higher than the 8% expected by analysts.
The company's stock has rebounded significantly from lows around $44.09 in early November after concerns over supply chain disruptions and a miss on its third quarter results.
In pre-market trading the stock has risen more than 6% to around $65.00.
