Strong Results, Optimistic Guidance Drove Lululemon Stock Higher
Buoyed by its first-quarter performance, Lululemon Athletica’s (LULU) management raised the company’s 2018 guidance. The updated guidance reflects a 15% increase at the midpoint compared to last year and assumes a high-single-digit growth in comparable sales. The effective tax rate for the year is projected at 30% compared to 29% guided earlier.