Lululemon's Strong Financial Performance in Q3 2024

Lululemon Athletica Inc. experienced a significant surge in its stock price on Friday, following the release of its robust financial results for the third quarter of 2024.

The athletic apparel company reported an 8.7% increase in revenue, reaching $2.39 billion. Additionally, Lululemon disclosed a gross profit of $1.4 billion, both figures surpassing Wall Street's forecasts, which had predicted revenue of $2.35 billion and gross profit of $1.35 billion.

As a result, the retailer's stock rallied 18.67% at 1:08 pm ET, selling for $409.18 per share.