Just when equities were starting to look shaky again after a decent run to end the summer, athleisure brand Lululemon (NASDAQ:LULU) has given the would-be bears pause for thought. They reported their Q2 earnings after the bell rang to end yesterday's session, and the numbers were red hot. Keep in mind Lululemon at its core is a bricks-and-mortar retailer, and so among those stocks most susceptible to the soaring inflation prints and cooling consumer spending trends that have been gathering pace all year.
Topline revenue was up an impressive 29% year on year, and well ahead of what analysts had been expecting. Similarly their earnings per share also beat the consensus and were more in line with what you'd expect from a tech stock last year than from a retailer right now. Comparable sales jumped 23%, while gross profit increased 25% to $1.1 billion. Not only did the numbers for the past quarter impress, management's forward guidance also raised eyebrows for all the right reasons too.
