Retail

Lululemon (LULU) reports Q2 2020 earnings beat

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Lululemon Athletica store logo and sign in Philadelphia.

Gilbert Carrasquillo | Getty Images

Lululemon on Tuesday reported surprise revenue growth, despite lockdowns during the height of the coronavirus pandemic, as stores started reopening in the fiscal second quarter and consumers stocked up on workout apparel and yoga accessories. 

Its stock fell by more than 5% in after-hours trading. 

CEO Calvin McDonald said the retailer is “cautiously optimistic” about the rest of the year. Lululemon is not offering a 2020 outlook at this time. It said almost all, 97%, of its stores globally have reopened to date and store sales are averaging about 75% of their levels a year ago. 

Here’s how the…



Source cnbc.com

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