Lululemon Athletica Inc.NASDAQ
Fri, Dec. 2, 7:48 AM
Mon, Nov. 28, 8:33 AM
- Black Friday weekend channel checks from investment firms are still pouring in. A few tidbits are posted below.
- Wells Fargo: Lululemon (NASDAQ:LULU) was a traffic outperformer, while Calvin Klein (NYSE:PVH) and Carter's (NYSE:CRI) held the line on pricing amid a promotional atmosphere.
- Wedbush: High-profile video games were discounted more than last year. Keep an eye out on GameStop (NYSE:GME), Activision Blizzard (NASDAQ:ATVI), Take-Two (NASDAQ:TTWO) and Electronic Arts (NASDAQ:EA).
- Fung Global Retail & Technology: Shoes (FL, FINL) were identified as a hot seller, while jewelry (NYSE:SIG) sales were down.
- Jefferies: Unexpected strength for the UGG brand (NASDAQ:DECK) and Gap was observed. Demand for Michael Kors (NYSE:KORS) and Coach (NYSE:COH) handbags appeared soft.
- Previously: Black Friday wrap: Records fall, retail winners and losers (Nov. 25)
- Source: Bloomberg.
Fri, Nov. 25, 11:57 AM
- KeyBanc calls Amazon (AMZN -0.1%) and Wal-Mart (WMT +0.7%) early winners of the Black Friday shopping period based on channel checks.
- The investment firm confirms other reports that mall traffic is light. Within the mall sector, Lululemon (LULU +0.2%), Victoria's Secret (NYSE:LB) and Gaps (GPS -1.4%) are called outperformers - while concerns are raised over Buckle (BKE +0.6%) and Vera Bradley (VRA +0.8%).
- Cowen also sees Wal-Mart as a winner. Pink (LB) and American Eagle Outfitters (AEO +0.2%) are also doing wel, according to analyst Olivia Chen.
- MKM Partners has an eye on margins. The combination of "virtually all" retailers offering broad discounts on store assortment and a low level of inventory heading into the shopping period is striking.
- FBR Capital reiterates the broad theme that online sales are diluting Black Friday store traffic. Despite the overhang - Carter's (CRI +0.2%), Hanesbrands (HBI -0.3%), Chico's (CHS +0.7%) and Children's Place (PLCE +1.3%) are called out by FBR as standouts.
Wed, Nov. 16, 8:32 AM
- Lululemon (NASDAQ:LULU) is on watch after Credit Suisse shifts to a Neutral rating on the athletic apparel seller after having it lined up at Outperform.
- CS cites an increase in "markdown intensity" at stores, an alarming trend for Q4 margins. Other retail watchers have issued similar warnings on some elevated markdown activity in the athleisure category due to the increase in selling channels.
- LULU -2.31% premarket to $55.50 vs. a 52-week trading range of $43.14 to $81.81.
Tue, Oct. 25, 8:56 AM
- Shares of Lululemon (NASDAQ:LULU) are lower in early trading in what appears to be a reaction to Under Armour's earnings report and conference call commentary.
- Under Armour CEO Kevin Plank said liquidations and promotions are impacting margins at UA, including in the key athleisure category.
- LULU -3.02% premarket to $54.50. Nike is down 2.2% and UA is off more than 15%.
Fri, Oct. 21, 8:00 AM| Fri, Oct. 21, 8:00 AM
Wed, Oct. 19, 1:17 PM
- Barron's has introduced a tracking index of stocks favored by younger consumers.
- Though the combined performance on the group of 50 stocks smashed the returns of the S&P 500 over the last five years, this year it lags slightly so far.
- As expected, the price-earnings ratio of the Barron's Next 50 Index skews higher due to the focus on longer-term millennial growth.
- Some of the companies making the initial list are Amazon (NASDAQ:AMZN), Barnes & Noble Education (NYSE:BNED), Boston Beer (NYSE:SAM), Chipotle (NYSE:CMG), Etsy (NASDAQ:ETSY), GameStop (NYSE:GME), GoPro (NASDAQ:GPRO), GrubHub (NYSE:GRUB), Kate Spade (NYSE:KATE), Live Nation (NASDAQ:LIVE), Lululemon (NASDAQ:LULU), MasterCard (NYSE:MA), Match Group (NASDAQ:MTCH), Monster Beverage (NASDAQ:MNST), Shake Shack (NYSE:SHAK), Square (NYSE:SQ), and Yelp (NYSE:YELP).
- A millennial-focused ETF launched last spring, the Global X Millennial Thematic ETF (NASDAQ:MILN), has outperformed the S&P 500 Index over its brief history.
Wed, Oct. 19, 10:43 AM
- A fresh note from Oppenheimer on Lululemon (LULU +2.8%) indicates investors may have overreacted to speculation on markdown and clearance activity at the retailer.
- Channel checks from the firm show clearance items are limited to one or two racks per store.
- "With shares down substantially from August highs, we believe buy-side expectations embedding both sales and margin miss; comps in line with MSD guide; and still potential for better margins sufficient at these levels," writes analyst Anna Andreeva.
- Oppy keeps an Outperform rating on LULU and slides its price target to $70.
Fri, Sep. 9, 9:27 AM
- A survey from William Blair indicates that teenagers and young adults have increased their visits to malls this year to reverse a multi-year trend.
- In what may come as a surprise, teens ranked malls above movie theaters, restaurants, and sports clubs/extracurriculars as their most popular place to meet.
- Despite the depressed levels of overall sales this year for mall retailers, the read on teens could be a possible indicator that the mall model will evolve and survive, instead of disappear.
- "While overall mall traffic remains challenging, our survey this year noted a material increase in the number of respondents who indicated they are visiting malls more often than last year, perhaps suggesting that malls’ efforts to increase relevancy (through more experiential brands and the addition of attractive entertainment and dining options) are beginning to bear fruit," says Bernstein analyst Sharon Zackfia.
- Mall retailers: AEO, ANF, ASNA, BKE, BOOT, CATO, CBK, CHS, CTRN, DSW, EXPR, FRAN, GCO, GES, GPS, LB, NWY, PLCE, SCVL, SMRT, SSI, TLYS, URBN, LULU.
Fri, Sep. 2, 12:43 PM
Fri, Sep. 2, 12:15 PM
Fri, Sep. 2, 9:23 AM
- Buy the dip, says Barclays' Matthew McClintock, maintaining his Overweight rating and $85 price target, though cutting his 2016 and 2017 EPS estimates by a nickel each. Revenue growth of 13.6% was healthy; comps rose just 5%, but McClintock figures an online warehouse sale one year ago knocked 2% off this figure. Margin expansion of 260 basis points, however, topped expectations.
- Wedbush's Morry Brown defends as well, also taking note of that online warehouse sale as causing the comp sales miss. Results show the company's “ability to generate strong comp sales growth despite a challenging external environment...The long promised gross margin inflection has now taken hold, with continued margin gains planned for H2 and into 2017.” He maintains his Overweight rating and lifts the PT to $84 from $82.
- Promotions and light traffic should hamper the rest of the year, says FBR, maintaining its Underperform rating and $40 price target.
- Maintaining his Neutral rating and $72 price target, UBS's Michael Binetti notes same-store sales comps are going to be even harder in Q3 and Q4 of this year.
- LULU -8.15% premarket
- Previously: Lululemon Athletica EPS in-line, misses on revenue (Sept. 1)
Fri, Sep. 2, 9:15 AM
Thu, Sep. 1, 5:36 PM
Thu, Sep. 1, 4:52 PM
- Lululemon (NASDAQ:LULU) reports comparable-store sales rose 3% (+4% on a constant dollar basis) in Q2.
- Direct to consumer revenue increased 6% to $87.4M or +16% if the impact of an online warehouse sale is backed out..
- Gross profit rate +260 bps to 49.4% which is called an "inflection point" by CEO Laurent Potedevin.
- SG&A expenses rate increased 290 bps to 35.0%.
- Operating income rate decreased 30 bps to 14.4%.
- Store count +6 Q/Q to 379.
- Looking ahead, Lululemon expects FY16 revenue of $2.325-$2.35B and EPS of $2.07 to $2.15 vs. $2.05-$2.15 prior.
- Previously: Lululemon Athletica EPS in-line, misses on revenue (Sept. 1)
- LULU -8.65%AH to $70.03. Shares haven't been below the $70 mark since late June.
Thu, Sep. 1, 4:06 PM