Lululemon Continues to Impress
Who is really doing well in retail? We've heard the latest out of Macy's (M), Wal-Mart (WMT), Target (TGT), J.C. Penney (JCP), Kohl's (KSS) and, last night, on Mad Money, Ascena (ASNA) (don't laugh they are that big now after a spate of acquisitions) and we know things have gotten tough. My feeling is with the fiscal cliff looming to the point of being mainstream that your take-home pay is going to be reduced by a shocking amount if there is no deal -- things are not going to get any better.
Which is why the lululemon athletica (LULU) number yesterday was so astounding. Of course, we had to go through the usual rigmarole to see this. A spectacular 18% comp-store sales gain -- best I have seen from any company -- coupled with terrific gross margins looked like enough to send the stock to the low $70s. But the downbeat high-single-digit comp-store projections stopped the elephant in its tracks and then sent it down to the high $60s....365 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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