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The departure of the company’s chief product officer adds to a “wall of worry” Raymond James analysts said. Choe joined Lululemon more than seven years ago and became chief product officer in 2018, according to her LinkedIn. “I think that there’s a lot of people out there who believe that she was the person behind the scenes and was the most instrumental to Lululemon’s success,” Nikic said. Lulu has been “hyper aware” of dupe culture, Nikki Neuburger, then its Chief Brand Officer, previously said in an interview with CNN Business. However, Lululemon wasn’t stocked enough in these smaller sizes, which could have led these younger shoppers to competitors, Nikic said.
Persons: New York CNN —, Lulu, Alo, , Sun Choe, ” Raymond James, Choe, Raymond James, Tom Nikic, , ” Nikic, Mike Kemp, Vuori, Nikki Neuburger, Hailey Bieber, Martha Stewart, Lululemon, Nikic, Calvin McDonald, Samsul Said Organizations: New, New York CNN, preteens, Nike, Wall, Vans, CNN, Jefferies, CNN Business, Shoppers, Bloomberg, Getty Locations: New York, athleticwear, Covent, London, United Kingdom, Los Angeles, preteen, Bukit Bintang, Kuala Lumpur, Malaysia, China
New York CNN —Champion, the more than century-old sportswear brand, has a new owner. Hanesbrands announced Wednesday that it will sell Champion to Authentic Brands Group in a deal worth up to $1.5 billion with performance incentives. Many consumers have pulled back on discretionary clothing, a trend that has hurt Champion’s rivals such as Nike and Under Armour. Champion had made an exclusive C-9 Champion line for Target for around 15 years, but the contract expired in early 2020 as Target focused more on its own private-label brands. The company then started selling the C-9 line on Amazon.
Persons: Hanes, Hanesbrands, Organizations: New, New York CNN —, Authentic Brands, Reebok, Nike, Target Locations: New York, Millennials, United States
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Hewlett Packard Enterprise, Campbell Soup & LululemonBoris Schlossberg, BK Asset Management managing director of FX strategy, joins 'Power Lunch' to discuss plays for three stocks, including Hewlett Packard, Campbell Soup, and Lululemon.
Persons: Campbell, Boris Schlossberg, Hewlett Packard, Campbell Soup Organizations: Hewlett Packard Enterprise, BK Asset Management
The bull and bear cases for Lululemon ahead of earnings
  + stars: | 2024-06-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe bull and bear cases for Lululemon ahead of earningsJharonne Martis, Director of Consumer Research at LSEG, and Aneesha Sherman, Analyst and Vice President at Bernstein, debate the bull and bear cases for Lululemon.
Persons: Jharonne Martis, Aneesha Sherman, Bernstein Organizations: Consumer Research Locations: LSEG
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. The tech-heavy Nasdaq was the star of the show Wednesday, surging more than 1.5% on the back of Nvidia 's march to a $3 trillion market value. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Eaton, Gamble, Wednesday's, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Federal Reserve, Treasury, Nvidia, Hewlett Packard Enterprise, Dell Technologies, Broadcom, Apple, Costco, Constellation Brands, Proctor, Jim Cramer's Charitable Locations: U.S, Dover
Traders work on the floor of the New York Stock Exchange during afternoon trading on April 9, 2024. Stock futures hovered near the flatline in overnight trading after the S&P 500 notched a new record closing high thanks to a rally in artificial intelligence chip darling Nvidia . Futures tied to the S&P 500 rose nearly 0.1%, while Nasdaq-100 futures inched up 0.1%. Lululemon jumped 10% in extended trading on as the sportswear manufacturer beat expectations in its fiscal first quarter. The S&P 500 jumped 1.18% to close at 5,354.03.
Persons: Lululemon, Stocks, Rubin, Aswath Damodaran, nonfarm Organizations: New York Stock Exchange, Stock, Futures, Nasdaq, Dow Jones, Nvidia, Apple, New York University, Federal Reserve, ADP
Stock futures are near flat Tuesday night as investors geared up for private payroll data while analyzing the latest corporate earnings. S&P 500 futures and Nasdaq 100 futures also each rose just around 0.1%. "Upcoming labor market releases are a clear focus for the broad market," said Bill Northey, investment director at U.S. Bank Wealth Management. "Investors are eyeing the most recent readings on labor market health — JOLTS today, the ADP survey tomorrow and the [Bureau of Labor Statistics] labor report on Friday. All are important data points from a monetary policy standpoint."
Persons: CrowdStrike, Dow, , Dow Jones, Bill Northey, Lululemon Organizations: New York Stock Exchange, Stock, Dow Jones Industrial, Nasdaq, Hewlett Packard Enterprise, Federal Reserve, ADP, Traders, U.S, Bank Wealth Management, of Labor Statistics
It's difficult to compare public school systems forensically because of the countries' vastly different populations and government infrastructures. However, feedback from my British friends has convinced me that the setup in the UK is more user-friendly for kids and parents. Kids in the UK start school as young as 4By law, children in the UK enter the publicly-funded British school system as young as 4. Kids wear uniformMost government-run schools in the UK require students to wear a school uniform. The protocols contrast those in the US, where most public school kids can wear what they want to class — albeit within reason.
Persons: Organizations: Service, Business, Navy Locations: PISA, New York, Britain, Lululemon
Just ask Ross Stores: America’s largest off-price retailer reported earnings and revenue that beat analysts’ forecasts last week. The US Labor Department releases April figures on job openings, quits, hires and layoffs. The US Commerce Department releases April figures on new orders for manufactured goods. The US Commerce Department releases April data on exports and imports. Friday: The US Labor Department releases May data gauging the state of the job market, including monthly payroll growth, wage gains and the unemployment rate.
Persons: Ross, , ” Adam Orvos, ” TJX, TJ Maxx, LVMH Moët Hennessy Louis Vuitton, ” Clayton Allison, Allison, ” Allison, Brown Forman, Campbell Organizations: CNN Business, Bell, Washington CNN, Companies, Ross Stores, Marshalls, Burberry, Prime Capital Investment Advisors, CNN, Walmart, P Global, Institute for Supply Management, CrowdStrike, Hewlett Packard Enterprise, Body, US Labor Department, US Commerce Department, Bank of Canada, Autodesk, Smucker, DocuSign, Vail Resorts, European Central Bank Locations: Washington, North America, Europe, Australia, Americas, Zumiez
In this way, the nonfarm payroll report also offers clues on the near-term path of inflation. As always, payroll processing firm ADP will release its May private-sector jobs report before the government's nonfarm payroll report. On Tuesday, we'll get the latest JOLTS data, shorthand for the Job Openings and Labor Turnover Survey conducted by the Labor Department. Earnings A few noteworthy earnings reports set for next week include CrowdStrike and Hewlett Packard Enterprise after the close on Tuesday. A report released by the Bureau of Labor Statistics showed the US economy added 311,000 jobs in February.
Persons: industrials, Eaton, Locker, Salesforce, we've, FactSet, Dow Jones, we'll, Ferguson, OLLI, Campbell Soup, Brown, Forman, LULU, JM Smucker, Jim Cramer's, Jim Cramer, Jim, Joe Raedle Organizations: Nasdaq, Dow Jones, Federal, Energy, Coterra Energy, Palo Alto Networks, Broadcom, Microsoft, Costco, Labor, Labor Department, Institute for Supply, Hewlett Packard Enterprise, Body, Donaldson Company, DCI, Brands, Natural Foods, THOR Industries, ABM Industries, Vail Resorts, MTN, NGL Energy, Jim Cramer's Charitable, CNBC, Bureau of Labor Statistics, Getty Locations: Chicago, Palo, U.S, Bath, Toro, Miami , Florida
Dell Technologies — Stock in the personal computer and technology company slid more than 16% after executives warned about further margin pressure ahead. Nordstrom stuck by its full-year earnings forecast and reported strong growth in its Nordstrom Rack segment, which outperformed the headline brand stores. Gap — Shares climbed more than 25% after the apparel company lifted its full-year operating income forecast on the heels of a first-quarter earnings beat. Ulta on Thursday posted fiscal first-quarter earnings that reflected a 1.6% year-over-year increase in same-store sales, a significant slowdown from the same period a year earlier. MongoDB said it expected to earn 46 cents to 49 cents per share on $460 million to $464 million of revenue.
Persons: Jason Bazinet, Zscaler, Nordstrom, Ambarella, MongoDB, LSEG, Michelle, Sun, Choe, Wall, Lisa Kailai Han, Pia Singh, Jesse Pound Organizations: Dell Technologies, Lionsgate, Citi, Marvell Technologies, LSEG, Vans
Final Trades: Lululemon, Sysco, Abbvie and TJX Companies
  + stars: | 2024-05-31 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: Lululemon, Sysco, Abbvie and TJX CompaniesThe Investment Committee share their top stocks to watch for the second half.
Organizations: TJX, Investment
CNBC's Jim Cramer on Friday told investors what to pay attention to next week on Wall Street, highlighting the nonfarm payroll report and earnings from GitlLab and CrowdStrike . Cramer said he's waiting to see how the company will perform because some in the enterprise software sector see issues with sales. Tuesday brings quarterly results from CrowdStrike, and Cramer said this cybersecurity company has been doing better than many of its peers. Friday brings perhaps the most important event of the week, according to Cramer, the Labor Department's nonfarm payroll report. Cramer said the Federal Reserve won't be inclined to cut rates until the unemployment rate reaches 4%.
Persons: CNBC's Jim Cramer, Cramer, he's, Hewlett Packard, Ferguson, PVH, Calvin Klein, Tommy Hilfiger, Ralph Lauren, Campbell Soup, Jack Daniels, Brown, Forman, Lululemon, JM Smucker, Smucker Organizations: Dell, athleisure, Labor
Check out the companies making headlines in midday trading: Dell Technologies — The software stock plunged 22% after executives cautioned that its gross margins could face more pressure in 2025. Zscaler — Shares added 5.2% after the cloud security company posted a fiscal third-quarter earnings and revenue beat. Gap — The clothing retailer soared 26% after posting fiscal first-quarter earnings per share of 41 cents, higher than the 14 cents analysts surveyed by LSEG had expected. The company beat earnings and revenue expectations for the April quarter, but still saw slower-than-expected consumption growth. SentinelOne expects its revenue to fall between $808 million to $815 million in 2024, which was lower than the $817 million forecast by LSEG.
Persons: Zscaler, LSEG, Nordstrom —, Nordstrom, chipmaker, Marvell, MongoDB, Sun Choe, Choe, Cooper, Paycom, Randy Peck, Christopher Thomas, Maheep, CNBC's Hakyung Kim, Yun Li, Jesse Pound, Pia Singh Organizations: Dell Technologies, Lionsgate, Citi, Starz, Nordstrom, Marvell Technologies, Vans, Cooper Companies, Mizuho Locations: Seattle
Its peak $100 billion valuation once made it the world's third largest privately-held company, behind TikTok owner Bytedance and Elon Musk's SpaceX. Estimates have pegged Shein's IPO valuation at around $90 billion, Bloomberg reported last year. AdvertisementTo gauge what happens to some Shein items once they're returned, BI reporters in the UK put two AirTag trackers on Shein garments and sent them back. Shein is more directly involved in production and focuses on clothes, but Temu's popularity "could affect the valuation," Swartz said. In a November statement following the news of Shein's IPO, chairman Mike Gallagher urged investors and banks underwriting the move to "carefully examine Shein's regulatory and compliance programs."
Persons: , Bytedance, Sky Xu, Yangtian Xu, Chris, Shein, confidentially, David Swartz, Swartz, Lululemon, JADE GAO, Stephanie Benedetto, Queen, Benedetto, they're, Shein's, Morningstar's Swartz, Temu, Mike Gallagher Organizations: Service, Elon, SpaceX, Business, Reuters, Authentic Brands, Wall Street, CNBC, Bloomberg, Morningstar, Zurich Insurance Group, Guardian, BI, Coventry Airport, SEC, Street, Financial Times, London Stock Exchange, Chinese Communist Party, Nike, Adidas Locations: China, , Singapore, Sequoia China, London , Hong Kong, York, London, Canary Wharf, Coventry, Walsall, Northern Ireland, England, Kent, Washington, Xinjiang, Dublin, Shein
The cloud security company posted adjusted quarterly earnings of 88 cents per share on revenue of $553 million. MongoDB — MongoDB tumbled 23% after the developer data platform issued second-quarter and full year guidance that was weaker than expected , even as its first-quarter earnings results exceeded expectations. Dell Technologies — The tech stock plunged more than 14% even after Dell beat expectations in its first-quarter results . Otherwise, fiscal first-quarter revenue of $3.34 billion topped the consensus estimate of $3.20 billion. Marvell Technology — The semiconductor stock slid 3% after Marvell Technology missed first-quarter expectations.
Persons: Zscaler, LSEG, MongoDB, Dell, Nordstrom, NetApp, SentinelOne, Michelle, Sun, Choe, , Christina Cheddar, Berk Organizations: Dell Technologies, Dell, LSEG, Costco, Costco Wholesale, Revenue, Marvell Technology, SentinelOne, Corp, VF Corp, Vans
As the hype surrounding artificial intelligence shows no signs of abating, one tech fund manager is set to reveal her top ways to play the AI theme. On Wednesday's Pro Talks, Pleydell-Bouverie — who co-manages Lionstrust's global tech, innovation and dividend funds — will name companies that are "selling the picks and shovels for AI" and are "already making money." Pleydell-Bouverie manages the Liontrust Global Innovation, Liontrust Global Dividend and Liontrust Global Technology funds. Over the year to the end of March, all three funds have beaten their benchmark indexes, with the Liontrust Global Technology Fund rising 51.9%, compared to the MSCI World Information Technology Index's 39.1%. Learn more from our previous Pro Talks: Should investors buy the dip in Lululemon?
Persons: Clare Pleydell, Bouverie —, Bouverie Organizations: Liontrust, Management, Big Tech, Tech, Liontrust Global Technology, Liontrust Global Technology Fund, Technology, CNBC, Nvidia Locations: London, Singapore
AdvertisementPivoting from reselling electronics to clothingWhile Richard was making enough reselling electronics to scrape by, "the cash flow was very tight." AdvertisementStill, he called his eBay store Technsports. "You have to put up great items with a great listing, and eBay and the customers will reward you." "I will always have an eBay store. He also plans to grow the YouTube channel he started in 2023 to help other people make money selling on eBay.
Persons: , Richard S, Richard, I've, It's, Ralph Lauren, Gucci, I'm, Louis Vuitton, Richard's, Technsports, he's Organizations: Service, Circuit, Business, eBay, Craigslist, Sidekicks, Buffalo Bills, Salvation Army, Nike, Louis, BI Locations: Ft, Lauderdale, Coral Springs
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Persons: we've, you'll, you've, fryer, Braun, Fryer, Ninja's, Ninja, Crisp, Pick, It’s, Max, Casper, Pillow, Topper, Allbirds Organizations: Business, Apple, Day, Samsung, Walmart, Samsung TV, Amazon Sony, Amazon Samsung, Amazon, DreamCloud Sealy, Amazon ., Shop, Ninja, Sony, JBL Bluetooth, Amazon Beats, Amazon Apple, JBL, Haven, Elm, Flyers Locations: Brooklyn, France, Chewy
Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Target : Shares were dropping 7% after the retailer on Wednesday reported a soft quarter and missed on earnings for the first time since November 2022. "It just wasn't as strong as the other guys," Jim Cramer said Wednesday. " Williams-Sonoma : The company behind Williams Sonoma, Pottery Barn, and West Elm delivered a huge quarter earnings beat on inline revenue. It's really a terrific situation," Cramer said.
Persons: Jim Cramer's, Jim Cramer, Sun Choe, Cramer, Anthro, Williams, Elm Organizations: CNBC, Club, Target, Walmart, Wall Street Journal, Toll, Urban, Urban Outfitters Locations: Sonoma, Williams Sonoma
Chart of the Day: Lululemon
  + stars: | 2024-05-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChart of the Day: LululemonLululemon is getting hammered, down 6% and hitting a new 52-week low. It's our Chart of the Day—the Investment Committee debate if this stock is dead money.
Urban Outfitters — The clothing retailer slid 4.6% despite posting a fiscal first-quarter beat, after trading higher before Tuesday's opening bell. Urban Outfitters reported adjusted earnings of 69 cents per share, higher than the 52 cents per share analysts polled by LSEG had expected. First Solar — Shares surged more than 18% in midday trading. Other alt energy stocks also surged, in part owing to enthusiasm that AI will lift power demand. Bloom Energy surged 18%; Sunnova Energy added 14%; and Enphase Energy , Fluence Energy and Sunrun were all up 10%.
Persons: Goldman Sachs, LSEG, , Alex Harring, Lisa Kailai Han, Jeff Greenberg Organizations: Goldman, Urban Outfitters, Garmin, Bank of America, , Toll, Citi, Tesla, Elon, Bloomberg, UBS, Bloom Energy, Sunnova Energy, Enphase Energy, Fluence Energy, Sonoma, Universal, Getty Locations: Massachusetts, Europe, FactSet, Miami Beach , Florida
Target — Target's shares tumbled more than 7% after first-quarter earnings missed estimates, driven by a year-over-year sales decline of about 3% as consumers bought fewer discretionary items. Shopify — The retail software stock rose 2.6% following a Goldman Sachs upgrade to buy from neutral. Urban Outfitters — The clothing retailer added 1.8% after beating Wall Street estimates for fiscal first-quarter results. PDD — PDD Holdings, the Chinese parent of discount retailer Temu, gained 7.6% after reporting a 131% increase in first-quarter revenue. Analysts surveyed by LSEG were looking for $4.14 per share on $2.53 billion of revenue.
Persons: , Goldman Sachs, Morgan Stanley, Alex Harring, Jesse Pound, Sarah Min Organizations: Outfitters, Wall, Urban, PDD Holdings, Toll, Citi, Wall Street Journal
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLululemon's business will crash next year, warns Jefferies’s KonikRandy Konik, Jefferies, joins 'Fast Money' to talk Lululemon's recent drop and what it signals about the athletic wear brand's business.
Persons: Jefferies’s, Randy Konik, Jefferies
"Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending," McDonald's CEO Chris Kempczinski said on the company's conference call in late April. Paul Weaver | SOPA Images | Getty ImagesFor more than two years, consumers have dealt with sharply rising prices. But that doesn't mean the actual prices seen on grocery store shelves or restaurant menus will fall, and shoppers are feeling that pinch. While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending. Corporate misfires can also lead to disappointing sales, even if their shoppers aren't necessarily pulling back on their spending.
Persons: Chris Kempczinski, Burger, Paul Weaver, Jerome Powell, Aurelia Concepcion, Concepcion, it's, Joe Raedle, Brett House, John David Rainey, Ramon Laguarta, Ed Bastian, We're, Daniel Slim, Brian Niccol, Calvin McDonald, Laxman Narasimhan, Sara Senatore, Spencer Platt Organizations: DAL, Washington Post, Home, Delta Air Lines, Consumers, of Labor, CPI, KFC, Starbucks, Columbia Business School, Walmart, Finance, CNBC, PepsiCo, Gatorade, Pepsi, United, Delta Airlines Boeing, Owen Roberts International, AFP, Getty, Delta, Target, Bank of America Locations: Manhattan, Bloomsburg , Pennsylvania, New York, Georgia, Ohio, Miami , Florida, U.S, Delta, Europe, Asia, Japan, George Town, Cayman Islands, New York City
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