Jim Cramer: Lululemon Is 'Firing on All Cylinders'

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Lululemon  (LULU) - Get Lululemon Athletica Inc (LULU) Report posted earnings.

For the quarter ending in July, the company earned $1.65 pre-share as revenues surged 61% from last year's pandemic trough to around $1.45 billion.

It also said that it sees full-year earnings in the region of $7.38 to $7.48, on sales that could reach $6.26 billion, even as supply chain disruptions add stress to the group's logistics over the second half of the year.

"Lululemon LULU remains in the early innings of our growth story and I continue to be inspired and excited with the momentum we’re seeing across the business," CEO Calvin McDonald told investors on a conference call late Wednesday. "Results of this caliber enable us to now develop our next five-year growth plan and we’ll come back to you next year with an updated view of what the future can hold."

"We are monitoring this closely and leaning into the agility of our supply chain. The strength of our planning and allocations team and the powerful partnerships with our vendors to help mitigate the risks where we can," he added. "Our business was particularly strong in quarter two and our guidance calls for momentum to continue in the back half of the year. But I think it’s fair to say that our business would have been even stronger without these challenges facing the industry."

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