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December 11, 2013
14:20 EDTLULUEarnings Preview: lululemon shares down 10% YTD ahead of Q3 results
Lululemon Athletica (LULU) is scheduled to report Q3 before the market open on Thursday, December 12, with a conference call scheduled for 9:00 am ET. Lululemon is a designer and retailer of yoga-inspired apparel operating primarily in North America and Australia. EXPECTATIONS: Analysts are looking for EPS of 41c on revenue of $376.14M, according to First Call. The consensus range for EPS is 39c-43c on revenue of $367.15M-$388.55M. LAST QUARTER: Lululemon reported Q2 EPS of 39c against estimates for 35c on revenue of $344.5M against estimates for $342.99M; same-store sales increased 8%. The company forecast Q3 EPS of 39c-41c on revenue of $370M-$375M, with a comparable-store sales percentage increase in the mid-single digits on a constant-dollar basis. Additionally, lululemon guided FY13 EPS $1.94-$1.97 on revenue of $1.625B-$1.635B. On its Q2 earnings conference call, lululemon said Q3 was off to a "weak start" driven primarily by late deliveries of fall products "leaving us with a summer product on the floor through August." NEWS: The company recently appointed Laurent Potdevin as the companyís CEO and a member of its board. Potdevin, who previously served as president of TOMS Shoes, will succeed Christine Day, who has served as the companyís CEO since 2008 and who announced her intention to resign in June. Chip Wilson, lululemonís founder and the chairman of its board, informed the board that he is resigning from the position of non-executive chairman. The board selected Michael Casey, lead director, as the next chairman of the board. Wilson came under fire in November after saying in an interview that women's bodies may be to blame for problems with the luxury workout wear. Wilson publicly apologized for his comments, saying he was "sad for the repercussions of [his] actions". Lululemon said it felt a securities fraud lawsuit claiming that the company meant to sell hundreds of thousands of nearly sheer yoga pants should get thrown out. The company said it did not hope the defect "would remain undiscovered" if customers wore the pants as intended. STREET RESEARCH: Sterne Agee believes that lululemon's new CEO's lack of public company experience and lack of retail experience may offset what appears to be his strong operational background at better brands. Oppenheimer said it expects the CEO pick to be viewed positively, given his fitness/lifestyle executive experience; Credit Suisse also viewed the selection positively. During the quarter, shares of the stock were initiated with a Neutral rating at Mizuho and with an Overweight rating at JP Morgan. The stock was downgraded at Sterne Agee to Underperform from Neutral, as the firm believes comments from founder Wilson "alienated" customers and sees decelerated 2014 same-store sales trends in 2014. PRICE ACTION: Over the last three months, lululemon shares are up down almost 1%. Year-to-date, shares are up down about 10%. Ahead of tomorrow's earnings, shares are down almost 1% in mid-day trading.
News For LULU From The Last 14 Days
Check below for free stories on LULU the last two weeks.
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April 15, 2014
09:39 EDTLULUlululemon to host analyst day
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07:01 EDTLULUlululemon can ease competition concerns at analyst day, says Canaccord
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April 7, 2014
13:10 EDTLULUlululemon weekly volatility elevated into Analyst Day
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07:38 EDTLULUlululemon reiterated as a Buy ahead of Analyst Day at Topeka
Topeka expects lululemon's April 17 Analyst Day to be a "very positive" event and reiterates its Buy rating and $70 price target ahead of the event. The analyst said the new CEO is on a marketing offensive as the store base expands worldwide and new heads of merchandising and sourcing are working to maintain a high quality, innovative product.
April 4, 2014
10:10 EDTLULUJudge rejects claims from lawsuit against lululemon, Reuters reports
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April 3, 2014
10:49 EDTLULULululemon Athletica active call volume attributed to renewed takeover chatter
Lululemon Athletica active April weekly 55 and 56 call total call volume is attributed to renewed takeover chatter. April weekly call option implied volatility is at 43, April is at 34, June is at 38; compared to its 26-week average of 37 according to Track Data. Active call volume suggests traders taking positions for upside price movement.
10:34 EDTLULURumor: lululemon strength attributed to unconfirmed takeover speculation
April 2, 2014
11:08 EDTLULUOptions with decreasing implied volatility: LULU VJET APOL RHT GME
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