Lululemon stock 'an attractive level' after post-earnings pop, analyst says
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- Опубликовано: 5 июн 2024
- Shares of Lululemon (LULU) are rising after beating first quarter earnings estimates and raising its share buyback program to $1 billion. BTIG Consumer Retail and Lifestyle Brands Analyst Janine Stichter joins the Morning Brief to dive deeper into the company's earnings.
Stichter characterizes the company's earnings as a "sigh of relief" amid a management change and decelerating US sales. She emphasized that international sales were "extremely strong" and that the company's Americas business was "less bad than expected." US sales are not worsening, and the retailer "has a handle" on what it needs to fix, the analyst adds.
Coming out of Q4, Lululemon disclosed inventory challenges, which Stichter says the company will seek to correct in Q2 and later in the year with innovation ramping up. International sales were a 'huge piece of the growth story," the analyst says. She notes that China is a "proof of concept" for the company.
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