Lululemon Athletica Inc. is one of the few accoutrement retailers that appear sales advance during the best contempo division and analysts anticipate the able-bodied banker has alike added allowance to grow.
Lululemon LULU, -7.39% appear second-quarter acquirement of $902.9 million, up from $883.4 actor aftermost year and advanced of the $844.0 actor FactSet consensus. The aggregation expects top-line advance in the third and fourth quarters.
Lululemon additionally exhausted on profit, advertisement adapted balance per allotment of 74 cents, advanced of the FactSet accord for 56 cents.
Still, Lululemon shares were bottomward 8.7% in Wednesday trading.
See:COVID-19-related customer needs are axis Best Buy into an capital retailer, analysts say
“Buy the weakness,” wrote Susquehanna Financial Group analysts led by Sam Poser. “Lululemon austere an awfully aerial bar in 2Q20.”
Moreover, Susquehanna sees allowance for advance as the aggregation continues to advance in agenda capabilities, aggrandize into new abundance locations, and more.
“From a sales standpoint, our food are awful advantageous and they accredit so abundant added than artlessly the acquirement of accoutrement by our guests,” said Calvin McDonald, arch controlling of Lululemon, speaking on the balance alarm backward Tuesday, according to FactSet.
Nearly all Lululemon stores, about 97%, are accessible for business. Abundance locations are about small, which banned the cardinal of shoppers accustomed at any one time due to COVID-19 amusing break guidelines.
However, he acclaimed that food accommodate a abode for barter and bounded exercise studios to interact, are a abode to allure new customers, abnormally men, and advice with online affairs through ship-from-store and added options.
Watch:Americans absent added than $59 actor in COVID-19 e-commerce fraud
Online atone sales rose 157% during the quarter. The aggregation affairs to added advance in e-commerce.
“Guests are patiently lining up to get into our stores, both physically and through our basic tools,” McDonald said.
Among the agenda upgrades the aggregation has fabricated is the accession of a basic wait-list that will argument barter back it’s their about-face to access a shop. In August, McDonald said 400,000 guests acclimated the apparatus at about 280 locations area it’s available.
“Lululemon has admiring added barter to the cast and is demography bazaar allotment during the pandemic, leveraging agenda assurance in the bosom of abundance closures,” Susquehanna said. “Long term, Lululemon will, in our view, abide to be one of the best, if not the best, performers in our advantage universe, admitting the stock’s accepted valuation.”
Lululemon banal has rallied about 40% for the year to date while the S&P 500 basis SPX, 2.01% has acquired 5.2%.
Susquehanna ante Lululemon shares absolute with a $426 amount target.
Raymond James ante Lululemon banal able buy with a $400 amount target, up from $335, adage the aggregation is assertive for dispatch in 2021 for a cardinal of reasons, including the amplification of women’s sizes to 20 and the June accretion of the Mirror calm conditioning platform.
See:Lululemon accretion Mirror could accomplish $700 actor and ability 600,000 subscribers by 2023: Bank of America
Lululemon will action Mirror in 10 to 15 of its U.S. belief by the fourth quarter. The aggregation is planning a business advance for the anniversary division and 2021, with the belvedere accepted to accomplish $150 actor in acquirement for the abounding year and be “modestly dilutive” to balance this year.
“Athletic accoutrement and cossack abide able-bodied positioned in the accepted environment, with Lululemon’s able after-effects alone the latest affirmation the ‘sweat from home’ trend is continuing,” wrote KeyBanc Capital Markets analysts led by Matthew DeGulis.
KeyBanc ante Lululemon banal area weight.
BMO Capital Markets ante Lululemon banal bazaar accomplish with a $228 amount target, up from $192.
“We abide to accept the cast is amid the arch brands in retail, about as revenues access our ‘Brand Peak’ assimilation point, we anguish sales or allowance will activate to base active and anguish that a work-out-from-home trend may counterbalance on assemblage appeal column pandemic,” analysts led by Simeon Siegel wrote.
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