Lululemon's Profits Top Wall Street Expectations
Business Insider reports Lululemon's shares jumped by 3% late Wednesday after it beat Wall Street's expectations. The athleisure retailer's first-quarter profits and sales topped estimates. Calvin McDonald, the company's chief executive officer, said in the statement, "Lululemon continues to see strong momentum across the entire business." Wall Street expects profits and sales to rise over the next three quarters, due in part to the rise in popularity of the brand's menswear.