Advertisement
Canada markets open in 4 hours 15 minutes

  • S&P/TSX

    22,259.16
    -31.46 (-0.14%)
     

  • S&P 500

    5,187.67
    -0.03 (-0.00%)
     

  • DOW

    39,056.39
    +172.13 (+0.44%)
     

  • CAD/USD

    0.7284
    -0.0004 (-0.05%)
     

  • CRUDE OIL

    79.77
    +0.78 (+0.99%)
     

  • Bitcoin CAD

    84,026.84
    -1,492.30 (-1.74%)
     

  • CMC Crypto 200

    1,322.30
    +22.20 (+1.71%)
     

  • GOLD FUTURES

    2,318.20
    -4.10 (-0.18%)
     

  • RUSSELL 2000

    2,055.14
    -9.51 (-0.46%)
     

  • 10-Yr Bond

    4.4920
    +0.0290 (+0.65%)
     

  • NASDAQ futures

    18,127.25
    -59.25 (-0.33%)
     

  • VOLATILITY

    13.23
    +0.23 (+1.77%)
     

  • FTSE

    8,361.47
    +7.42 (+0.09%)
     

  • NIKKEI 225

    38,073.98
    -128.39 (-0.34%)
     

  • CAD/EUR

    0.6786
    +0.0010 (+0.15%)
     

Lululemon's Search for CFO Ends; Appoints Stuart Haselden - Analyst Blog

Zacks Equity Research
Updated

Leading yoga-inspired athletic apparel and accessories retailer, Lululemon Athletica Inc’s (LULU) search for a new Chief Financial Officer (CFO) came to an end with the appointment of Stuart C. Haselden to the position. Haselden, who has profound experience in the apparel industry, is expected to join the company on Feb 2, 2015.

Haselden’s background reveals his deep understanding of financial management along with proficiency in the field of driving strategy, international growth, and shareholder value. The aforementioned traits make him an appropriate choice for the position of CFO in Lululemon, which has been in troubled waters since Mar 2013.

Haselden joins Lululemon after his extensive service at J. Crew Group Inc., where he rose to the position of CFO and Executive Vice President in May 2012. Simultaneously, he also served as the company’s Principal Accounting Officer. Prior to 2012, he held various positions in the company including those of a Senior Vice President of Finance, Treasurer and Vice President of Financial Planning & Analysis. Before joining J. Crew in 2006, Haselden worked as the Vice President of Strategic Planning for Saks Incorporated. Apart from this, he occupies a prominent place on the advisory board of the School of Human Sciences at Auburn University.

Lululemon’s management believes that Haselden’s capabilities and experience of 15 years with apparel retailers will go a long way in building further momentum in its goals of expanding across borders and accelerating long-term growth.

Lululemon seems to be regaining its reputation as a leading yoga-inspired athletic apparel retailer as evident from its better-than-expected earnings performance in the near past. The company has been gaining traction from its ongoing strategic move to enhance product quality and brand as well as its focus on global expansion. However, the company cannot escape the increased competition from retailers venturing into the yoga apparel business.

Though much remains to be done in achieving its global growth target, the company is optimistic about its financial performance in the near future. For fiscal 2014, it expects revenue in the range of $1.77–$1.78 billion with combined comps growth in the low-single digits. The company expects adjusted earnings guidance for the fiscal to lie in a band of $1.74–$1.78 per share.

Currently, Lululemon carries a Zacks Rank #3 (Hold). Better-ranked stocks in the apparel retail industry include Michael Kors Holdings Ltd. (KORS), Crocs Inc. (CROX) and Columbia Sportswear Company (COLM), all carrying a Zacks Rank #2 (Buy).


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
COLUMBIA SPORTS (COLM): Free Stock Analysis Report
 
LULULEMON ATHLT (LULU): Free Stock Analysis Report
 
CROCS INC (CROX): Free Stock Analysis Report
 
MICHAEL KORS (KORS): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research