Shares of Lululemon (LULU) began to trade lower on Thursday after reporting third-quarter results that topped Wall Street estimates on both the top and bottom lines, but the fourth quarter revenue guidance was short of expectations. The athletic wear retailer recently was downgraded by Raymond James analysts but was this a mistake? Brian Nagel, Oppenheimer Senior Analyst, joins Yahoo Finance to discuss why Lululemon is a company on the rise and the opportunities for the company to expand going forward. Nagel explains his stance on Lululemon's strength: "Overall, the consumer continues to hold up really well. I have been through a number of quarterly reports over the last few weeks... it seemed like there was a bit of consumer weakness in October, some of that was probably weather driven, basically it being too warm across the country, but I think what we're seeing consistently, and I very much expect Lululemon to talk about this on their conference call, is that the consumer, when there's a reason to spend, they are showing up." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Third Quarter Fiscal 2023 Results Show a 19% Increase in Revenue and a New $1.0 Billion Stock Repurchase Authorization
Lululemon Athletica Inc on Thursday forecast fourth-quarter revenue and profit below expectations.