LULU - Lululemon Athletica Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
304.77
-3.85 (-1.25%)
At close: 4:00PM EDT
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Previous Close308.62
Open312.15
Bid304.85 x 800
Ask304.85 x 800
Day's Range302.55 - 312.52
52 Week Range128.85 - 324.76
Volume1,847,580
Avg. Volume2,118,553
Market Cap39.683B
Beta (5Y Monthly)1.08
PE Ratio (TTM)69.08
EPS (TTM)4.41
Earnings DateSep. 03, 2020 - Sep. 07, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est320.74
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  • Lululemon Looks Into the Mirror for Its Next Chapter
    Bloomberg

    Lululemon Looks Into the Mirror for Its Next Chapter

    (Bloomberg Opinion) -- Lululemon Athletica Inc. is stretching itself into a new area of business. The seller of yoga pants and other workout apparel announced late Monday that it had agreed to acquire Mirror, a home-fitness product offering live and on-demand classes as well as personal training, for $500 million. Lululemon CEO Calvin McDonald has said that the startup expects to notch more than $100 million in sales this year and is on track to break even or earn a narrow profit next year.  This deal, of course, does little to boost the top line sales for a company that had $4 billion in revenue last year.  But it is a worthwhile way for Lululemon to test its ability to move beyond its core retailing expertise. After securing at least $72 million in venture funding and winning some celebrity devotees, Mirror had long been thought of as a potentially powerful disruptor in the fitness business. But now that the pandemic has pushed legions of consumers to explore at-home exercise, its prospects look even brighter. It seems likely that gyms and boutique fitness studios – places where people do lots of heavy breathing in close quarters – will be among the last establishments consumers feel comfortable returning to as the economy reopens. This will be especially true if we see more reports like one earlier this week that a patron to a Planet Fitness gym in West Virginia may have exposed more than 200 people to the novel coronavirus.  In other words, the total addressable market for the Mirror has suddenly exploded.   In addition to paying nearly $1,500 for the Mirror, a product that mounts on your wall like a mirror or stands in your living room, customers pay a $39 monthly subscription for access to classes. That recurring revenue makes for an attractive business model with strong profitability potential. One of the most impressive aspects of a larger but similar at-home fitness pioneer, Peloton Interactive Inc., has been how sticky its subscriptions have proved to be. If Mirror can achieve anything close to that, it will provide a predictable stream of cash for its new corporate parent. Lululemon has long used in-store yoga classes and running clubs to connect with its customers, and the Mirror acquisition is essentially an extension of that tactic for nurturing shopper loyalty and awareness. It’s easy to imagine ways the brands can cross-promote each other, such as with Mirrors set up for trial in Lululemon shops or with Mirror instructors wearing Lululemon gear in their classes.  Simply having entree to Lululemon’s far larger customer base could turbocharge Mirror’s growth. There are certainly ways this acquisition could end up doing little to drive either business forward. Lululemon’s prowess selling clothing may not translate well to scaling what is essentially a hardware and software business. And Lululemon still gets a relatively small share of its sales from outside the U.S. and Canada, so it doesn’t have particularly deep experience in overseas markets, something that might be helpful to Mirror as it aims to grow. Overall, though, they seem like good partners to collaboratively court the kind of consumer that can shell out $98 for leggings and $1,500 for exercise equipment.I always groan at the term “lifestyle brand,” because everyone in retail seems to think they are one and so few truly are. By expanding into home fitness, Lululemon looks more and more like a rare company that actually deserves that designation. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • lululemon to Boost In-home Fitness Offering With MIRROR Buyout
    Zacks

    lululemon to Boost In-home Fitness Offering With MIRROR Buyout

    lululemon (LULU) expands on its digital sweatlife offerings and enhances omni guest experience through its deal to buy MIRROR, which engages in interactive live and on-demand workout classes.

  • Bloomberg

    Lululemon Acquisition Offers Seat at Home Fitness Table

    (Bloomberg) -- Lululemon Athletica shares rose the most in more than two months on Tuesday after the yoga-wear maker agreed to buy Mirror, a producer of in-home fitness equipment, for $500 million. This is Lulu’s first acquisition.The Mirror platform has a “massive TAM [total addressable market], significant revenue synergies and lower customer acquisition costs” that should produce high growth and returns, according to Cowen. The addition of Mirror offers Lulu a “place in the home with its hardware + content,” as well as “daily mindshare and a platform for its 2000+ ambassadors and events,” Cowen added.Shares gained as much as 8%, the biggest intraday advance since April 17. The stock has outperformed in 2020, having risen 36% year to date, thanks to the popularity of athleticwear while people work at home during the Covid-19 pandemic. The S&P 500 Index has dropped 5.3% thus far this year.Here’s what analysts are saying about the acquisition:Cowen, John Kernan“We see a large base of consumers willing to pay for premium fitness/lifestyle content and a financial model that likely has meaningful opportunity to leverage fixed costs as it scales.”Mirror has a “lean” financial model and a “multi-faceted” value proposition compared to others in the At-Home Fitness market.With about 50% of overlap between Mirror and Lulu customer bases, Kernan sees “significant opportunity to expand awareness of Mirror and build membership and product conversion/commerce for Lulu.”Rates outperform, price target to $335 from $311.Susquehanna, Sam PoserThe Mirror acquisitions adds “yet another way that Lululemon will personally engage with customers and provides opportunities for personal interactive commerce for consumers as well.”Poser sees “strong synergies” becoming “evident over the next one to two years.”Rates positive, price target $360.RBC Capital Markets, Kate FitzsimonsInvestors have been looking for further expansion beyond Lulu’s current addressable market, and with Mirror it now has an avenue to bring new users into the “experiential sweatlife, to increase consideration and conversion among existing guests (and their families/roommates), and to further enhance the company’s experiential membership program still in very early days.”“The widening TAM with the Mirror acquisition appears very compelling in [the] context of global health, end-to-end connected omnichannel ecosystems, and augmented reality deployment.”Rates outperform, price target $348.Stifel, Jim DuffyDuffy is hopeful that Mirror will “further improve” Lulu’s digital competencies, and he appreciates its efforts to reach “new and existing customers on a new platform that has seen solid traction particularly throughout the pandemic,” with total downloads up 62% since March 1.Lulu’s “best-in-class” liquidity positioning will be sufficient to fund the transaction and still leave “ample room” to support business operations.Rates buy, price target $365.What Bloomberg Intelligence Says:“The Mirror purchase may expand Lululemon’s digital business and extend its reach with stay-at-home consumers, whose numbers have grown since Covid-19.”“Mirror’s subscription workouts provide recurring revenue and complement Lululemon’s loyalty program.”\--Analyst Poonam GoyalClick here for the researchBMO, Simeon Siegel“Recognizing the Work Out From Home surge, the idea behind the acquisition makes perfect sense,” however, it “remains to be seen” what each company ultimately does for each other.Peloton and Lulu customers likely share a “meaningful overlap,” which to Siegel suggests that Lulu’s ability to “reach and grab the incremental At-Home fitness customer away from PTON could be meaningful.”“We love the brand, but are wary that sales and margins are approaching a crossroads.”Rates market perform, price target $192.(Updates stock activity)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  • Lululemon to buy at-home fitness system Mirror for $500 million
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    On Monday, lululemon announced that it is going to acquire at-home fitness startup Mirror for $500 million. Of the acquisition, CEO Calvin McDonald said “it is an exciting opportunity to build upon that vision, enhance [its] digital and interactive capabilities, and deepen [its] roots in the sweatlife.” LULU shares jumped on the news after-hours, while Peloton's stock came under pressure. Jared Blikre breaks down the details of the merger, and what it means for trends in home workout alternatives.

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    TechCrunch

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  • Business Wire

    lululemon athletica inc. to Acquire Home Fitness Innovator MIRROR

    lululemon athletica inc. (NASDAQ:LULU) today announced that it has entered into a definitive agreement to acquire MIRROR, a leading in-home fitness company that created an interactive workout platform that features live and on-demand classes, for a purchase price of $500 million.

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  • Thomson Reuters StreetEvents

    Edited Transcript of LULU.OQ earnings conference call or presentation 11-Jun-20 8:30pm GMT

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