Nomura Securities Maintains a 'Reduce' on Lululemon Athletica (LULU); Q1 Preview

Nomura Securities maintains a 'Reduce' on Lululemon Athletica Inc. (NASDAQ: LULU).

Nomura analyst, Paul Lejuez, said, "In the note we take a look at LULU’s transition to ecomm and preview the company ahead of 1Q earnings the week of 6/6. In Mid-April, LULU transitioned from a third-party ecomm platform to one operated in house. Overall, we believe there were no major issues with the conversion, though it certainly had a negative effect on sales for 1Q and some kinks remained 1 month later. Mgmt indicated ecomm to be ~8% of 1Q sales vs. ~10% of sales for the F11. We think 1Q EPS is likely still ahead of consensus, and expect EPS of $0.39 vs cons of $0.38."

For more ratings news on Lululemon Athletica Inc. click here and for the rating history of Lululemon Athletica Inc. click here.

Shares of Lululemon Athletica Inc. closed at $97.58 yesterday.

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