Company News

BUZZ-PREVIEW: Lululemon takes a breather ahead of quarterly report

** Lululemon Athletica Inc shares down 0.6% at $170.58 on Weds ahead of Canadian clothing chain’s Q1 results due after the bell; Street looking for an update on its international expansion and push towards menswear

** LULU jogged to record high $179.50 on Apr 24 after co unveiled its “Power of Three” 5-yr growth plan

** Analysts on avg expect qtrly rev up 16% yr/yr to $755.3 mln and adj EPS of 70 cents, according to Refinitiv IBES data

** Co has beaten top and bottom line consensus for at least past 8 qtrs

** LULU up 40% YTD vs Nasdaq Composite index’s 17% advance

** 20 of 33 covering analysts rate LULU “buy” or stronger, rest are neutral; median PT of $190 up 15% from 90 days ago (Refinitiv data)

** At recent price, stock trading ~35x NTM earnings