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Shares in Lululemon, which also owns at-home fitness company Mirror, rose 6% in extended trading.
Higher-income households have largely shrugged off the impact of steeper prices of everyday essentials to splurge on apparel and bags, buoyed by their savings during the lockdowns.
The company’s revenue rose to $1.87 billion in the second quarter from $1.45 billion a year earlier. Analysts, on average, had expected revenue of $1.77 billion, according to IBES data from Refinitiv.
Lululemon now expects 2022 net revenue between $7.87 billion and $7.94 billion, compared with a prior range of $7.61 billion to $7.71 billion.
The company forecast 2022 adjusted earnings between $9.75 and $9.90 per share, compared with its previous outlook of $9.35 to $9.50.
