Lululemon was selected to be added into the S&P 500, the broadest measure of the U.S. stock market, in a move that historically has been a bonus for shareholders.
Lululemon Athletica stock is on the rise as the active wear company prepares to officially join the benchmark S&P 500 index Wednesday. S&P Dow Jones Indices announced the inclusion in what is the broadest measure of stocks last week, replacing Activision Blizzard now that the video game maker has been acquired by Microsoft.The deal was recently approved by U.K. regulators, clearing the path for a full U.S. approval.
The athletic apparel maker lifted its third-quarter annual profit for a second time in August, reporting an 11% boost in revenue in the North American market and a 52% surge internationally. Then in September, Lululemon announced it had entered a five-year partnership with fellow high-end fitness brand Peloton, which made Lululemon the primary apparel provider for the home workout company. The two brands plan to capitalize on their respective followings.
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