Say what you will, but lululemon athletica (Nasdaq: LULU) isn't like the other retailers. The Motley Fool Rule Breakers recommendation is a growth-stock darling in a yoga-pants disguise.

Don't take my word for it. Pull up a quote on Yahoo! Finance and check out the "People viewing LULU also viewed" data. With the exception of UGG boot maker Deckers Outdoor (Nasdaq: DECK), investors tracking lululemon are interested in scintillating growth stocks far removed from suburban shopping malls. Three of the six suggested stocks are even fellow picks in the Rule Breakers newsletter service!

If you're hungry for even more proof, just pull up this morning's quarterly report.

Revenue soared 53%, to $245.4 million at the seller of high-end athleticwear for women, fueled by a 28% spike in comps. Earnings climbed even faster, clocking in at $0.64 a share before a favorable tax adjustment benefit. Analysts didn't have a clue. They were holding out for a profit of $0.57 a share on $239 million in revenue.

This scene should look familiar to attentive Fools: lululemon has been wearing monster comps and Wall Street beats all year long. When lululemon itself told the pros to expect quarterly profits of $0.55 a share to $0.57 a share two months ago, those suckers actually believed it.

Here's a quick look at the past four quarters:

Time Period




Q1 2010 $0.27 $0.21 29%
Q2 2010 $0.30 $0.24 25%
Q3 2010 $0.36 $0.25 44%
Q4 2010 $0.64 $0.57 12%

Source: Thomson Reuters.

One has to respect a company that routinely outpaces analysts by double-digit percentage margins. Its guidance for the new fiscal year isn't exactly eye-popping, explaining the stock's initial weakness today. Then again, I guess investors are making the same mistake that analysts make when they buy into lululemon's conservative prognostications. 

Selling pricey fitness gear seems to be a sweet spot during this otherwise iffy economic recovery. Under Armour (NYSE: UA) has also blown past the pros in each of the past four quarters. Nike (NYSE: NKE) is three out of four, and simply met estimates during the other period.

The move doesn't apply to all high-end retailers. On the designer denim front, True Religion (Nasdaq: TRLG) has missed Wall Street's profit targets in two of the past three quarters, and Joe's Jeans (Nasdaq: JOEZ) is trading for less than a third of its 52-week high.

Then again, why am I even pitting lululemon against premium footwear and apparel companies? Didn't I begin by saying that it isn't like the other retailers? Lululemon is a growth stock -- and a good one at that.

Do you know a hotter retailer? Prove it! Top lululemon in the comment box below.