I just read that the LLL TSX had a huge spike today. It’s currently sitting at 65.63 and just yesterday morning it was still at 54-56 range, up $8! from yesterday! This is a result of the release of Q3 earnings this morning which was very good.
Here is a clip from the CBC News article about Lululemon’s Q3 Earnings from this morning.
Yoga-gear maker Lululemon Athletica Inc. powerlifted its way to a third-quarter profit that beat its own and analysts’ expectations, the company said Thursday.
The Vancouver-based athletic clothing manufacturer made $25.7 million, or 36 cents a share, for the three months ended Oct. 31, 2010. The company’s income figure represented a rise of more than 80 per cent compared to the same period a year earlier when the company made $14 million, or 20 cents per share.
Better still, Lululemon beat its own earlier profit estimate of between 22 and 24 cents a share for the August-to-October period. In addition, Lululemon’s results outpaced the 25 cents a share that stock analysts believed the company would post.
“Our technical product continues to drive our top-line growth, cementing our position as an innovative athletic wear company with yoga at our core,” said Lululemon chief executive officer Christine Day in a press release.
In fact, the firm saw sales shoot up by more than 50 per cent in the quarter topping out at $175.8 million versus $112.9 million for the same time in 2009.
A portion of the sales gain was due to Lululemon’s opening of four new stores in the period, bringing to 130 stores company-wide. That represented an increase of 20 outlets compared to the beginning of 2010.
In addition, comparing the same stores, Lululemon’s revenue rose 29 per cent in the third quarter versus the August-to-October period a year earlier.Read more: http://www.cbc.ca/money/story/2010/12/09/lululemon-earnings-third-quarter.html#ixzz17dFR7YzQ
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