On Monday, the 13th of January 2020, Vancouver-based Canadian retailer of yoga pants and other yoga wears, Lululemon Athletica Inc. had raised its quarterly profit and sales outlook following robust holiday demand, as the Canadian apparel maker’s latest approaches to step up online presence and diversity its products had strongly stoked sales over the holiday period.
On top of that, following Lululemon’s upbeat projection on quarterly profit and sales, the Canadian yoga wear manufacturer’s share price, which had surged nearly 100 per cent last year, had been more than 3 per cent higher to $244.35 in pre-market trading and during preparation of the report, January 13th, GMT.
19.05, Nasdaq-listed shares of Lululemon were 4.07 per cent up to $244.39. More importantly, the Vancouver-based apparel maker’s quarterly forecast raise came forth after a mixed bag of holiday results from leading US retailers such as Kohl’s Corp., JC Penny Co.
Inc. and Macy’s Inc., which had been facing off steep competition from online sellers including those in the Amazon.com Inc., world’s No. 1 online retailer. Meanwhile, addressing to Lululemon’s production innovation that apparently had paid off during the holiday quarter, an analyst at MKM Partners, Roxanne Meyer said following Lululemon’s holiday forecast raise, “View these (Lululemon’s) results as industry leading and reflect the strength of product innovation, technology initiatives, marketing efforts and management execution. ”