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Is Lululemon Athletica (LULU) a Buy Ahead of Q3 Earnings Announcement?

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Athletic apparel company Lululemon Athletica (LULU - Free Report) is set to report third-quarter earnings results on Thursday after the closing bell. The Vancouver-based company encourages a healthy, fitness-based lifestyle that promotes activities such as yoga, running, and training. Lululemon has surpassed earnings estimates in each of the past 13 quarters; can LULU make it 14 in a row?

Lululemon is expected to deliver a third-quarter profit of $2.27/share, which reflects growth of 13.5% versus the same quarter last year. Revenues are projected to increase 17.8% to $2.19 billion.

The company has posted a trailing four-quarter average earnings surprise of 6.8%. LULU stock is currently a Zacks Rank #3 (Hold). Our proprietary Zacks Earnings ESP predicts another beat for the upcoming earnings announcement.

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