Lululemon Falls on Wall Street

[...]while the company did not provide any formal go-forward guidance, executives on Thursday evening's conference call with analysts said they expect in-store traffic during the fourth quarter - the all-important holiday shopping season - to be about 70 percent of last year's levels, the...

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Bibliographic Details
Published in:WWD 2020-12, p.2-2
Main Author: Ell, Kellie
Format: Article
Language:English
Subjects:
Capital markets
Clothing industry
Coronaviruses
COVID-19
Electronic commerce
Seasons
Shopping
Trends
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Summary:[...]while the company did not provide any formal go-forward guidance, executives on Thursday evening's conference call with analysts said they expect in-store traffic during the fourth quarter - the all-important holiday shopping season - to be about 70 percent of last year's levels, the same level as the third quarter's non-peak shopping weeks. "Recent softlines stock price appreciation suggests the market is very enthusiastic about vaccines catalyzing a strong apparel industry sales rebound next year," Sole wrote in a note. "While investors may pick at Lulu's likely conservative mid-high teens sales growth outlook with store productivity at 70 percent (versus prior [year] 75 percent) and digital moderating from Q3's [positive] 93 percent, we expect some conservatism is prudent considering rising restrictions [and coronavirus] case counts," Kate Fitzsimons, an analyst at RBC Capital Markets, wrote in a note.
ISSN:0149-5380