LULU is trading 10.8% up at $207.25, driven by better-than-expected third-quarter results and the announcement of CEO Calvin McDonald stepping down in January.
- The company reported revenue of $2.57 billion, up 7.1% year over year.
- Earnings per share came in at $2.59, significantly beating the $2.21 consensus estimate.
- The combination of news has driven the stock sharply higher despite mixed guidance and broader market weakness.