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.
Now read: Analysts weigh in on Lululemon »
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