#stock market#Canada#Lululemon#shares#clothing

Lululemon hits share price record high

baddey dey`
|Sep 4|magazine5 min read
Trumping Wall Street expectations once again, Lululemon’s shares have risen as much as 14% to a new record high, the Financial Post reported
 
The Canadian athletic apparel retailer recently posted its financial results for the second quarter of 2018, revealing a year-on-year increase of 25% to reach a net revenue of US$723.5mn.
 
According to the Financial Post, Lululemon has outperformed predictions for: “net sales for the past eight quarters; adjusted per-share earnings in six consecutive reporting periods; [and] comparable sales on a constant currency basis in the last five quarters”.
 
Lululemon’s 2020 net sales target is US$4bn, a figure which analysts say is very much achievable.
 
Bloomberg Intelligence commented, “Lululemon’s strength reinforces our view of it as a best-in-class retailer that can exceed expectations through its focus on product innovation and experience”.
 
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“We are increasingly positive on Lululemon’s growth prospects over the next few years”, Bernstein said. “From a share perspective though, we worry that we may have missed it”.
 
RBC Capital said that Lululemon’s growth shows “top line momentum, expanding margins, scarcity of growth premium, and attractive category fundamentals”.
 
“We see Lulu defining the prototype omni-channel model to which consumer brands should aspire”, Stifel said, compounding the widespread belief that Lululemon is an exceptionally bankable retailer.