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What you need to know
- Lululemon will report its third quarter results on Thursday, after the markets close.
- The majority of analysts who research Lululemon and are tracked by Visible Alpha have "buy" ratings on the stock, but the consensus price target is below its current level.
- Calvin McDonald, chief executive officer of the company, described the situation in August. “newness” Customers who are looking for more Lululemon seasonal products but cannot find them.
Lululemon Athletica will report its third quarter fiscal earnings Thursday night after the bell rings. Wall Street expects revenue to be up and profits to grow year over year.
Analysts give positive opinions on shares. Visible Alpha has identified 21 Lululemon analysts. Visible alpha tracks 13 brokers. “buy” Or equivalent rating for athletic apparel companies, as compared to seven maintaining “hold” Just one rating with A “sell.” Lululemon has a consensus target price of $325.50. That’s below today’s closing around $334.
Analysts predict that Lululemon will grow its quarterly revenue by almost 7% over the past year, to reach $2.35 Billion. Analysts expect net income to increase to $333.5million, or $2.69 a share. This is up from $248.7million, or $1.96 per share, one year ago.
CEO Says Lululemon Working To Refresh Its Lineup
Calvin McDonald, Chief executive officer (CEO) of Lululemon, acknowledged the aforementioned in August. “newness” The customers wanted more seasonal updates “color, print, patterns, and silhouettes” Lululemon has a few product categories that are more popular than others. In its report on second-quarter earnings, Lululemon reported that comparable store sales in the U.S. had dropped by 3%.
McDonald then said that Lululemon has been working to update its product lineup “as quickly as possible,” Additions that are expected by the Company “return to our historical levels of newness no later than spring 2025.”
Lululemon’s shares rose by more than 4 percent on Monday. However, they will have roughly lost a third in value between now and 2024.
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