Matt Jacob

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Lululemon outlook lift thrills Wall St as yogawear stays in vogue

Lululemon Athletica Inc (LULU.O) raised its annual sales and profit forecasts on Thursday as wealthy Americans snap up its pricey activewear even though inflation hounds wider retail spending, sending the company’s shares up 13% after hours. A strong rebound in China, easing air freight costs and tighter inventory control also helped first-quarter results surpass estimates…

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American Eagle Outfitters stock plummets on profit miss, paused dividend

American Eagle Outfitters (NYSE:AEO) stock slid by double-digits in Wednesday’s extended session after the company posted a disappointing second quarter earnings result. The Pennsylvania-based retailer posted significantly lighter than expected EPS alongside in-line revenue. Gross profit declined 26% from a particularly strong 2021 and reflected an over 11% margin contraction. “This is an unprecedented time…

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Retailers lower outlooks with discretionary spending under pressure

Discretionary apparel retailers proffered less-than-sunny earnings vistas this week, with Macy’s, Nordstrom, T.J. Maxx parent TJX, Victoria’s Secret and Abercrombie & Fitch all lowering their outlooks. Gap completely withdrew its second-half forecast on falling sales, while Urban Outfitters missed estimates.Why it matters: After a resurgence in 2021 — when the apparel industry saw one of…

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