Lululemon Athletica (Nasdaq: LULU), renowned for its premium leggings and athleisure, reported late Thursday a 7% increase in revenue for fiscal Q3 to $2.6 billion (£1.9 billion). However, diluted earnings per share declined to $2.59 (£1.94) from $2.87 (£2.14) a year earlier.
CFO Meghan Frank attributed the better-than-expected revenue and EPS to the company's disciplined execution and its strength across global markets. The stock responded positively, surging 10% during after-hours trading, but the reasons for this move extend beyond the Q3 earnings beat.
