Lululemon hits record high as yoga-wear maker just keeps beating Wall Street’s expectations

Lululemon Athletica Inc. investors don’t seem to mind the yoga-wear maker’s stretched valuation — trading at a P/E ratio of about 44 times, more than twice the S&P 500’s. The Vancouver-based company has beaten all sorts of Wall Street estimates over the past two years: net sales in each of the past eight quarters; adjusted per-share earnings in six consecutive reporting periods; comparable sales on a constant currency basis in the last five quarters.
Shares are up as