Shares of sports retailer Lululemon Athletica Inc.
rose 3% in after-hours trading Monday following its announcement that it has agreed to acquire Mirror, an in-home fitness company that created an interactive workout platform, for $500 million. Mirror has developed weekly live classes and thousands of on-demand workouts as well as immersive one-on-one personal training. In a statement, Lululemon Chief Executive Calvin McDonald said the acquisition of Mirror will “accelerate the growth of personalized in-home fitness.” The deal builds on a business relationship that began in mid-2019, with an initial investment in Mirror by Lululemon. Shares of Lululemon are up 27% in 2020. The broader S&P 500 index
is up 3% this year.