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Stock Market & Financial Investment News

News Breaks
June 12, 2014
11:50 EDTLULU, GPS, VFC, Mlululemon 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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October 29, 2014
07:53 EDTGPSMCX member stores block Apple Pay amid threat of fines, NY Times says
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October 28, 2014
10:30 EDTLULUlululemon may have another PR issue on hand, says Sterne Agee
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07:13 EDTMMacy's, Bloomingdale's stores to open in Abu Dhabi in 2018
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October 27, 2014
09:37 EDTMActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL PBR TWTR AMZN M NQ GILD C FB NFLX
October 24, 2014
12:21 EDTGPSAbercrombie & Fitch retreats after Goldman cuts to Sell
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06:15 EDTVFCVF Corp. executive could become next Aldo Group CEO, WSJ reports
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October 23, 2014
08:41 EDTMBuild-A-Bear partners with Macy's to open shop-in-shop locations for holidays
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October 22, 2014
15:27 EDTLULUlululemon management to meet with William Blair
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10:36 EDTGPSGap October calls active amid speculation it is reviewing strategic alternatives
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10:12 EDTGPSRumor: Gap up amid speculation it is reviewing strategic alternatives
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04:57 EDTLULUlululemon partners with Dalai Lama Center
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October 20, 2014
10:44 EDTVFCVF Corp dips lower after Q3 earnings miss consensus expectations
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09:17 EDTVFCVF Corp. says 'on track' to add 150 new stores this year
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09:09 EDTVFCVF Corp. says 'on track' to achieve FY14 growth expectations
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07:03 EDTVFCVF Corp. raises FY14 EPS view to $3.08 from $3.06
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07:01 EDTVFCVF Corp. increases quarterly dividend 22% to 32c per share
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07:01 EDTVFCVF Corp. reports Q3 EPS $1.08, consensus $1.09
Reports Q3 revenue $3.5B, consensus $3.57B.
October 17, 2014
08:39 EDTVFCVF Corp. management to meet with JPMorgan
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