There's just no stopping lululemon athletica (Nasdaq: LULU).

The upscale yoga gear retailer was trading as much as 14% higher today, after once again posting better-than-expected quarterly results.

Net revenue soared 56%, to $152.2 million, with earnings more than doubling to $0.30 a share. Analysts were expecting a profit of only $0.24 a share on a 49% top-line boost. Wall Street needs to snap out of its meditative pose and pay attention. This is the third consecutive quarter in which lululemon earned at least 25% more than the pros predicted.

Comps have been on a tear lately, and lululemon's fiscal second quarter was no different. On a constant-dollar basis -- important, because this is a Vancouver-based chain with stores throughout North America and even in Australia -- same-store sales soared an inspiring 31%.

Upscale athletic apparel for women remains popular, even in this dogged economy. Apparently, things aren't bad in every sector. Why else would high-end jeweler Tiffany (NYSE: TIF) begin selling designer handbags last week? How did Joe's Jeans (Nasdaq: JOEZ) -- where a pair of denim pants can set a shopper back nearly $200 -- grow its sales by 51% in its latest quarter, with a 26% spike in comps to boot? Why did Coach (NYSE: COH) double its dividend back in April?

Luxury sells, as long as you're stocking the right premium products.

In its latest quarter, lululemon posted $1,532 in sales per square foot, roughly triple what tenants at leading mall operators Taubman Centers (NYSE: TCO) and Simon Property Group (NYSE: SPG) are ringing up. How attractive does that make lululemon to a landlord? These juicy store-level metrics can't be ignored.

With just 130 stores worldwide, there is plenty of room for growth beyond the individual store performance. The retailer is planning to open another 20-25 stores next year.

Sure, lululemon's stock isn't cheap. It is trading for 35 times this year's projected earnings, and 28 times next year's analyst estimate. However, lululemon's earnings are growing a lot more quickly, and every quarterly win will find analysts ratcheting profit targets higher -- bringing forward P/E multiples lower.

It's a good place to be, regardless of how you feel about well-to-do soccer moms in pricey workout clothes.

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

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Longtime Fool contributor Rick Munarriz doesn't think he's cut out for yoga, given his inabilities to relax and focus. He even lacks the patience for yoga through Wii Fit. He does not own shares in any of the stocks in this story, except for Joe's Jeans. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Fool has a disclosure policy.