/Lululemon stock poised for record as more than 10% rally follows big earnings beat, big outlook hike

Lululemon stock poised for record as more than 10% rally follows big earnings beat, big outlook hike

Lululemon Athletica Inc. shares rallied in the extended session Wednesday and could break records on Thursday after the athleisure-apparel maker blew past Wall Street estimates for the quarter and hiked its full-year forecast by a wide margin.

Lululemon LULU, -1.45% shares surged as much as 12% after hours, following a 1.5% decline in the regular session to close at $380.85. Should those levels hold when the stock starts trading Thursday, Lululemon is looking at a new record price. Shares last hit an all-time high of $414.52 on Aug. 30, and would need to close up 8.8% Thursday for a new record.

The company reported second-quarter net income of $208.1 million, or $1.59 a share, compared with $86.8 million, or 66 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $1.65 a share, compared with 74 cents a share in the year-ago period.

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