![]() Shares of European sportswear companies Adidas (ADSGn.DE) and Puma (PUMG.DE) were also up.Snap Inc ( NYSE: SNAP) opened nearly 20% down on Friday after reporting a decline in revenue for it first financial quarter. The company's strong results also lifted shares of other athletic wear makers including Nike Inc (NKE.N) and Athleta owner Gap Inc (GPS.N) by 4% and 3%, respectively. "Lululemon is just very popular right now and seems to be immune from the slowing trend," David Swartz, an analyst at Morningstar Research said. ![]() Lululemon's exposure to China could be "a solid source of sales and margin upside for the rest of the year," analysts at Barclays wrote in a note.Ī loyal customer base has also given the company a leg up, helping it sell more of its popular products, such as the Align high-rise yoga pants which retails between $98 and $118, at full price, even amid an uncertain economy. The company also reported a 79% rise in sales in China, bolstered by the rollback of COVID restrictions. ![]() "Lululemon's stores continue to be a key catalyst for customer retention and acquisition," analysts at TD Cowen wrote in a note. Lululemon's first-quarter results also beat estimates as the company saw traffic across both its stores and online go up about 30%. "We think (Lululemon) is one of the select brands continuing to drive outsized demand in this more challenging macro environment with innovation and newness," said Abbie Zvejnieks, analyst at Piper Sandler. retailers ranging from Macy's (M.N) to Dollar General (DG.N) warning of weak discretionary spending by American consumers.Īt least 11 brokerages raised price targets on the company, with Piper Sandler hiking by the highest margin to $445, above the median of $424. The rosy outlook comes in contrast to the general trend of U.S. ![]() June 2 (Reuters) - Shares of Lululemon Athletica Inc (LULU.O) soared 15% in early trade on Friday, after the premium apparel retailer defied investor worries with a full-year outlook lift amid little pullback from consumers and a sharp rebound in China sales. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |