Lululemon reported an 18% increase in sales and profit for its fiscal second quarter, surpassing Wall Street's expectations. As a result, the athletic apparel retailer raised its full-year guidance. Lululemon now expects sales to be between $9.51 billion and $9.57 billion for the fiscal year, with profits projected to be between $12.02 and $12.17 per share. Although the company beat estimates on net income and sales, it fell slightly short of same-store sales expectations. Lululemon is undertaking an ambitious growth plan and has been expanding its brick-and-mortar stores while working to reduce inventory levels.

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