Lululemon shares surged more than 13% in extended trading Wednesday after the athletic apparel maker reported fiscal second-quarter profit and revenue that topped analysts’ expectations.
Consumers are shopping Lululemon stores and the company’s website for its sports bras, jogger pants and leggings for their stay-at-home wardrobes. But many are also seeking out stretchy pants and comfortable clothing as they return to the office. The shift toward so-called athleisure is benefiting retailers such as Lululemon and Nike.
Lululemon offered a better-than-expected outlook for the third quarter and for fiscal 2021, expecting momentum to build. Based on its current forecast, Lululemon is now on…