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Lululemon skyrockets as investors bet on bright future

Dec. 08, 2016 10:23 AM ETLululemon Athletica Inc. (LULU) StockLULUBy: Clark Schultz, SA News Editor1 Comment
  • Lululemon (NASDAQ:LULU) is back over $70 for the first time since early September as investors take heart after CEO Laurent Potdevin says the company is on track to hit $4B in revenue by 2021.
  • The retailer's sales were impressive during the key shopping days of Black Friday (+16%) and Cyber Monday (+29%) on what management says was a strong mix of full price selling.
  • Sports bras sales rose more than 20% during the quarter, according to Potdevin. He also noted that LULU has "fantastic innovation" regarding its bras on the way next year.
  • "We are impressed with the company’s ability to deliver both positive store comps and 16% eCommerce growth despite industry average traffic decline (in the mid-single digits)," observes Mizuho analyst Betty Chen.
  • Previously: Lululemon +11.5% on beat, buyback, and guidance boost (Dec. 7)
  • Previously: Analysts weigh in on Lululemon (Dec. 8)
  • Shares of LULU are +18.16% to $70.71.

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