RealMoney stock of the day, Lululemon (LULU - Get Report) , reported earnings after the closing bell on Thursday. The stock opened at an all-time high today after topping analyst sales and earnings expectations while also raising guidance.
Lululemon said earnings for the three months ending on August 4, the company's fiscal second quarter, came in at 96 cents per share, up 35.2% from the same period last year and firmly ahead of the Street consensus forecast of 89 cents per share. Group revenues, the company said, rose 22% to $883 million, again topping analysts' forecasts of a $842.4 million tally, while same-store sales rose by a forecast-busting 17%.
Even at all time highs the stock is still a buy says to Jim Cramer:
"Everybody says they're an experiential retailer. Well Lulu is an experiential retailer and that's because they have created an environment of wellness and athletic and mindfulness...What people don't understand is it allows them to be full price. Macy's is half price, Lulu is full price and they don't talk about that on the conference call. And I wish they had, I wish someone had said to them, just point blank aren't all these things the way to be able to keep prices high. But that's why Lulu does so well. They've created an environment where you've got double digit, actually high teen growth, and full price. And that's a combination of just keep buying the stock, keep buying Lulu even up here."
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