Lululemon’s Strong Quarter Vaults It Back Ahead of Nike
(Bloomberg) -- The battle between athletic-wear giants this year is heating up in the stock market. Lululemon Athletica Inc. shares jumped as much as 14% Thursday after reporting better-than-expected earnings and raising its guidance for the year as it continues to benefit from the pandemic-driven extended work-from-home period. The surge pushes the luxury yogawear maker’s year-to-date gain to 23%, back ahead of Nike Inc.’s 16% climb. The rivals have flip-flopped positioning in 2021, with the next major catalyst for Nike to take back the lead coming on Sept. 23 when it’s scheduled to announce first-quarter results.
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