Consumer Discretionary

Nike Likely to Report In-Line Fiscal Q4 Results, Morgan Stanley Says

/ / Consumer Discretionary /

Nike (NKE) is expected to report in-line results for fiscal Q4 on June 27, according to Morgan Stanley, which models a 1% sales growth for the quarter compared with the Street’s 0.6% increase. “4Q is unlikely to shift the thesis on NKE as questions around L-T growth & profitability remain, though it will give us a first look into the P&L impacts of mgmt.’s recent strategy evolution,” the report said. Morgan Stanley said the market will focus more on Nike’s initial guidance for fiscal Q1 and 2025 as strategic changes from the management seem more likely to materialize in fiscal H1 2025 and beyond results. “We anticipate NKE sets a low FY guidance bar given early-days & evolving strategy initiatives, potentially guiding initial ’25e EPS a touch below the Street,” the report said. Morgan Stanley cut Nike’s price target to $114 from $116 while maintaining its overweight rating.

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Tesla Gets Approval to Test Advanced Driver-Assistance System in Shanghai, China

/ / Consumer Discretionary /

Tesla (TSLA) has obtained approval to test its advanced driver-assistance system in Shanghai, China, and could also receive authorization to do the test in Hangzhou, Bloomberg News reported Monday, citing an unnamed source familiar with the matter. According to the report, the source said Tesla staff will conduct the system’s initial tests. Bloomberg said the company previously received approval to deploy the advanced driver-assistance system during a visit by Chief Executive Officer Elon Musk to Beijing.

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Nike Unlikely to Regain Traction in Fiscal Q4 as No ‘Major Fireworks’ Expected, Wedbush Says

/ / Consumer Discretionary /

Nike (NKE) is unlikely to regain traction in fiscal Q4 as no “major fireworks” are expected when it reports quarterly results on June 27, Wedbush said in a note Friday. “Essentially, the company already gave some nuggets of guidance for FY25, and we wouldn’t expect them to change that outlook meaningfully,” analysts Tom Nikic and Matt Quigley wrote. The company’s stock may be in a “holding pattern” until Nike unveils new products in its pipeline, the note added. Nike is planning to hold an investor day in the fall this year after seven years and the last time they held it, their peers were performing “extremely well”, and the company was facing challenges from over-distribution of legacy styles, the note said. The analysts expect Nike to tell a “compelling” story this fall that will support its shares regaining momentum. Also, Adidas rolling out different Yeezy styles on their application will

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Warner Bros. Discovery Raising Prices of Max Ad-Free Basic, Ultimate Plans

/ / Consumer Discretionary /

Warner Bros. Discovery (WBD) confirmed to MT Newswires Tuesday that it increased the price of the Max streaming service ad-free plan by $1 to $16.99 per month and by $20 a year to $169.99, effective immediately for new customers. The ultimate ad-free plan’s price will also rise by $1 to $20.99 a month and by $10 to $209.99 per year, the company said. The rate for the ad-supported plan remains unchanged at $9.99 a month or $99.99 a year, Warner Bros. added. Existing subscribers will see the new prices reflected in their next billing cycle starting around July 4 while those with annual subscriptions will not see any rate changes until the renewal of their plan, according to the company.

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Lululemon Athletica Inc. Announces First Quarter Fiscal 2024 Results

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lululemon athletica inc. Announces First Quarter Fiscal 2024 Results Board of Directors Authorizes $1.0 Billion Increase in Its Stock Repurchase Program Revenue increased 10% to $2.2 billion Comparable sales increased 6%, or increased 7% on a constant dollar basis Diluted EPS of $2.54 VANCOUVER, British Columbia–(BUSINESS WIRE)–June 05, 2024– lululemon athletica inc. (NASDAQ:LULU) today announced financial results for the first quarter of fiscal 2024, which ended on April 28, 2024. Calvin McDonald, Chief Executive Officer, stated: “In the first quarter, we saw strong momentum in our international markets, demonstrating how our brand continues to resonate around the world. Guests responded well to our product innovations across categories, and we are pleased by the progress we are making to optimize our U.S. product assortment. Looking ahead, we continue to have a significant runway for growth and are confident in our team’s ability to powerfully deliver for our guests in 2024 and

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Lululemon Q1 Earnings: Revenue Beat, EPS Beat, Comps Up 6%, Soft Q2 Guidance And More

/ / Consumer Discretionary /

Lululemon Athletica Inc (NASDAQ:LULU) reported first-quarter financial results Wednesday after the bell. Here’s a look at the key metrics from the quarter. Q1 Earnings: Lululemon reported first-quarter revenue of $2.21 billion, beating the consensus estimate of $2.2 billion, according to Benzinga Pro. The athleisure company reported quarterly earnings of $2.54 per share, beating analyst estimates of $2.39 per share. Total revenue was up 10% on a year-over-year basis and total comparable sales increased 6% year-over-year. Americas net revenue increased 3% year-over-year, while international revenue was up 35% year-over-year. Lululemon’s total store count was 711 at quarter’s end. Inventories were down 15% year-over-year. The company ended the quarter with $1.9 billion in cash and equivalents. Lululemon also said its board authorized a $1 billion increase to its stock repurchase program, bringing the total remaining amount under the buyback up to $1.7 billion. “In the first quarter, we saw strong momentum in

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Lululemon Posts Higher 1Q Rev After China Gains Offset Slowdown in Americas

/ / Consumer Discretionary /

By Sabela Ojea Lululemon Athletica said revenue rose in the latest quarter boosted by its presence in the Chinese market amid a slowdown in growth in the Americas. The yoga pants maker on Wednesday posted a profit of $321.4 million, or $2.54 a share, compared with $290.4 million, or $2.28 a share, for the same period a year earlier. Analysts surveyed by FactSet had forecast earnings per share of $2.41. Revenue rose to $2.21 billion from $2 billion, slightly beating the $2.2 billion expected by Wall Street, according to FactSet. In the Americas region, Lululemon saw revenue growth of 3%, down from a 9% increase in the fourth quarter. “Guests responded well to our product innovations across categories, and we are pleased by the progress we are making to optimize our U.S. product assortment,” Chief Executive Calvin McDonald said. Lululemon’s international revenue jumped 35%, mainly boosted by its performance in

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Lululemon Lifts Full-Year Earnings Outlook After Fiscal First-Quarter Beat; Stock Jumps After Hours

/ / Consumer Discretionary /

Lululemon Athletica (LULU) late Wednesday reported stronger-than-expected fiscal first-quarter results while the athletic apparel and footwear company lifted its full-year earnings outlook. Earnings advanced to $2.54 a share during the quarter through April 28 from $2.28 the year before, surpassing the Capital IQ-polled GAAP consensus of $2.42. Revenue increased 10% to $2.21 billion, just above analysts’ $2.2 billion estimate. Lululemon’s Nasdaq-listed stock was rallying 13% in after-hours trade. Comparable sales increased 6%, driven by a 25% jump in international operations. The consensus was for a 6.5% headline rise. Lululemon expects full-year EPS of $14.27 to $14.47, compared with $14 to $14.20 previously projected. The company continues to expect revenue of $10.7 billion to $10.8 billion. Analysts are forecasting GAAP EPS of $14.18 and sales of $10.76 billion. For the fiscal second quarter, the company expects EPS of $2.92 to $2.97 on revenue between $2.4 billion to $2.42 billion. The Street

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Costco’s May Sales Jump. E-Commerce Continues to Climb.

/ / Consumer Discretionary /

Costco Wholesale’s revenue growth continued to climb, up 8.1% in May from last year to $19.6 billion. That’s also an increase from April, when the company’s net sales rose 7.1% to $19.8 billion. E-commerce continues to show success, with online same-store sales up 15.3% year-over-year for May. In April, they rose 14.6%. Total company same-store sales rose 6.4% from a year ago. In April, they rose 5.6%. The stock was down 0.04% to $834 in after-hours trading. Shares are up 26.4% so far this year. On May 30, the wholesale retailer reported fiscal third quarter revenue of $57.4 billion, a 9.1% year-over-year rise. The company narrowly missed estimates calling for $58 billion. U.S. same-store sales rose by 6%, in line with expectations. Earnings for the quarter beat expectations, at $3.78 a share versus FactSet’s estimate of $3.70 a share. Costco is one of the only retailers to still report monthly

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