NEW YORK (TheStreet) -- Shares of Lululemon Athletica Inc. (LULU) are higher by 14.27% to $43.87 in pre-market trading on Thursday, after the company reported net income for the 2014 second quarter that beat analysts' expectations, showed an increase revenue, and as the company raised its full year outlook.
For the most recent quarter, the yoga and other athletic apparel retailer posted a decline in net income to $48.7 million, or 33 cents per diluted share, from $56.4 million, or 39 cents per diluted share for the 2013 second quarter.
Analysts polled by Thomson Reuters expected Lululemon to post earnings of 29 cents per share for the period.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Watch the video below for a preview of Lululemon and other earnings set to come out before the bell Thursday:
Net revenue for the 2014 second quarter grew by 13% to $390.7 million, from $344.5 million for the year ago quarter.
Analysts expected revenue of $376.8 million for the latest quarter.
Lululemon raised its full year 2014 outlook and forecast earnings per share between $1.51 and $1.56 on revenue in the range of $1.78 billion to $1.8 billion.
Previously the company guided for full year earnings between $1.50 and $1.55 on revenue in a range of $1.77 billion and $1.80 billion.
Separately, TheStreet Ratings team rates LULULEMON ATHLETICA INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation: