LuluLemon and Skechers favorite stocks among investors
Many companies in retail sector have witnessed renewed investor interest due to strong results and sales reported by these companies.
Shares of Lululemon rallied nearly 50% this year as the leisure apparel maker repeatedly impressed investors with its robust comps and earnings growth. The company reported 33 percent increase in direct-to-consumer sales compared to last year. Lululemon has managed to improve its brand loyalty.
Lululemon's revenue rose 24% last year, its comps rose 7%, its gross margin expanded, and its adjusted EPS surged 48%. The stock closed at $175 on Tuesday.
Comments by Steve Symington on Skechers, the sneakers and other fashion goods manufacturer, after the company reported strong sales. Shares of Skechers may have rallied more than 20% last month after the footwear specialist posted strong second-quarter 2019 results. But if the underlying drivers of its quarterly beat are any indication, I think the stock is still worth watching now.