Shares of yoga-pants specialists Lululemon Athletica Inc surged 20 percent on Th...
- Shares of yoga-pants specialists Lululemon Athletica Inc surged 20 percent on Thursday, with several Wall Street analysts raising their price targets for the company after a blockbuster fourth quarter.
Its success in North America, which contributes close to 90 percent of its business, stood out in a quarter where Nike, which introduced yogawear at the end of last year, fell short of Wall Street estimates for U.S. sales the first time in a year.“There’s a lot of runway for us to continue to grow our men’s business,” Chief Operating Officer Stuart Haselden said in a post earnings conference call with analysts.
“They play in the same neighborhood but not on the same block,” he said. “Lululemon has one foot in the fashion world and one foot in athletics while Nike has both feet in athletics.”
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