Lululemon Athletica Inc. (LULU) Nasdaq sees drop in sales amid   the Coronavirus pandemic even with  online sales surging 70%. Lululemon Athletica Inc (NASDAQ: LULU) posted a 17% revenue decline in the first quarter.

The Canadian company listed on the U.S. exchanges in July 2007, opening at $12.50 and entering an immediate uptrend that topped out at $30.35 in October.

295 stores  have reopened, and it does confirm all remaining stores will be open soon. The company has also continued to pay rent on all its properties and have not furloughed any employees. Customer service has been a challenge with many customer complaints getting in touch with the company about returns

Morgan Stanley maintained an Equal-weight rating and $296 target, KeyBanc Capital Markets maintained a Sector Weight rating,  and Bank of America Securities maintains a Buy rating and $340 price target.

Calvin McDonald is the Chief Executive Officer of Lululemon Athletica Inc., an athletic apparel company, and serves as a member of the company’s Board of Directors. Mr. McDonald is a growth-oriented leader who has a proven track record helping large organizations scale by integrating how brands engage with customers where they shop — in stores, across digital channels, and from their home. Prior to joining Lululemon in August 2018, Mr. McDonald served for five years as president and CEO of Sephora America’s, a division of the LVMH group of luxury brands. Source:https://investor.lululemon.com/index.php/board-directors/calvin-mcdonald

Top Institutional Holders

Holder   Shares   Date Reported   % Out       Value

FMR, LLC                           18,617,271                     Mar 30, 2020           14.98%   3,528,903,718

Vanguard Group, Inc. (The)                   10,893,971                     Mar 30, 2020           8.76%       2,064,952,203

Price (T.Rowe) Associates Inc           8,187,736                         Mar 30, 2020           6.59%       1,551,985,358

Jennison Associates LLC 7,719,010                         Mar 30, 2020           6.21%       1,463,138,345

Blackrock Inc.         7,036,616                         Mar 30, 2020           5.66%       1,333,790,562

Following the amazingly bad results, shares of lululemon slid 5.1% in the after-hours session in Jun 11. In the past three months, this Zacks Rank #3 (Hold) stock has gained 74.3% compared with the industry’s 28.6% growth.    Source :  https://finance.yahoo.com/news/lululemon-lulu-stock-down-q1-132101191.html

CWEB.com is not registered as an investment adviser with the U.S. Securities and Exchange Commission. Rather, CWEB.com relies upon the “publisher’s exclusion” from the definition of investment adviser as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.