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Stock Market & Financial Investment News

News Breaks
June 12, 2014
11:50 EDTVFC, GPS, M, LULUlululemon plummets to 52-week low after outlook cut, CFO retires
Shares of athletic apparel retailer lululemon (LULU) are sinking after the company's second quarter view missed analysts' consensus estimates and it lowered its fiscal 2014 outlook. The company's CFO, John Currie, also announced his retirement. WHAT'S NEW: This morning, lululemon reported Q1 adjusted earnings per share of 34c and revenue of $384.6M, topping estimates of 32c and $381.24M, respectively. Q1 SSS on a combined basis increased 1% on a constant dollar basis. Comparable corporate-store sales for Q1 decreased by 4% on a constant dollar basis and direct to consumer revenue increased 25% on a constant dollar basis. For Q2, the company forecast EPS of 28c-30c and revenue of $375M-$380M, falling short of consensus of 36c and $387.19M, respectively. The company lowered its FY14 normalized EPS view to $1.71-$1.76 from $1.80-$1.90, compared to consensus of $1.89. It also narrowed its FY14 revenue guidance to $1.77B-$1.8B from $1.77B-$1.82B, versus consensus of $1.8B. The company's CFO, John Currie, also announced his intention to retire by the end of the fiscal year. WHAT'S NOTABLE: On its earnings conference call, the company said Q2 sales have started off behind plan and that comps have been "more impacted than originally anticipated." ANALYST REACTION: Following the company's quarterly report, the stock was downgraded to Market Perform from Outperform at William Blair and was downgraded to Hold from Buy at Stifel. OTHERS TO WATCH: lululemon has been facing increased competition from rival yoga-wear retailers and department stores such as Gap's (GPS) Athleta brand, VF Corp's (VFC) lucy, Macy's (M), and others who are selling athletic-wear at lower prices and across more locations, according to a Reuters report. PRICE ACTION: In late morning trading, lululemon fell about 15% to $37.87 on nearly six times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $37.00. Including today's pull back, the stock is down approximately 41% over the past 12 months.
News For LULU;GPS;VFC;M From The Last 14 Days
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May 6, 2015
16:39 EDTVFCVF Corp. initiated with a Buy at B. Riley
Target $80.
May 5, 2015
08:12 EDTMMacy's announces pilot stores in new off-price business, Macy’s Backstage
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07:35 EDTVFC, LULUPotential tariff deal could boost Apparel margins, says Deutsche Bank
The potential trade agreement that would eliminate tariffs among the U.S. and 11 other countries, known as the Trans-Pacific Partnership, could help margins in the Apparel and Footwear sector over time, says Deutsche Bank. The firm estimates gross margin benefits from TPP could potentially reach 400 basis points for Nike (NKE) and 100-250 basis points for VF Corp. (VFC), Under Armour (UA) and lululemon (LULU). Approval for the TPP could be up for vote at the end of 2015, Deutsche believes.
May 4, 2015
10:00 EDTLULU, GPSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abercrombie & Fitch (ANF) initiated with an Underperform at RBC Capital... American Eagle (AEO) initiated with an Outperform at RBC Capital... Ann Inc. (ANN) initiated with a Sector Perform at RBC Capital... Ascena Retail (ASNA) initiated with a Sector Perform at RBC Capital... CONMED (CNMD) initiated with a Buy at Deutsche Bank... Carbylan Therapeutics (CBYL) initiated with an Outperform at Leerink... Chico's (CHS) initiated with an Outperform at RBC Capital... Energous (WATT) initiated with a Buy at Ascendiant... Gap (GPS) initiated with a Sector Perform at RBC Capital... Hanesbrands (HBI) initiated with an Outperform at Cowen... Inter Parfums (IPAR) initiated with a Buy at BWS Financial... Kenon (KEN) initiated with a Hold at Deutsche Bank... L Brands (LB) initiated with a Sector Perform at RBC Capital... LogMeln (LOGM) initiated with a Sector Weight at KeyBanc... Orchids Paper (TIS) initiated with an Outperform at Oppenheimer... Urban Outfitters (URBN) initiated with an Outperform at RBC Capital... lululemon (LULU) initiated with an Outperform at RBC Capital.
06:25 EDTLULUlululemon initiated with an Outperform at RBC Capital
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06:24 EDTGPSGap initiated with a Sector Perform at RBC Capital
Target $45.
May 1, 2015
07:02 EDTVFCVF Corp. sees FY15 EPS up 14% vs. $3.08 in FY14, consensus $3.21
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07:01 EDTVFCVF Corp. reports Q1 EPS 67c, consensus 67c
Reports Q1 revenue $2.84B, consensus $2.84B.
April 30, 2015
15:01 EDTVFCNotable companies reporting before tomorrow's open
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April 27, 2015
09:44 EDTLULUlululemon Q1 sales estimate $427M vs. consensus of $418M at ITG Research
ITG Research's Q1 sales estimate for lululemon is $427M vs. consensus of $418M and constant dollar comp assumption is 3%-4% year-over-year vs. management guidance of low-single digits.
April 24, 2015
06:57 EDTVFCPiper says don't chase shares of Black Diamond
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April 23, 2015
14:36 EDTMMacy's CEO says sees more discretionary spending in the future
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April 22, 2015
10:02 EDTMMacy's partners with Heidi Klum for exclusive collection
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