Lululemon shares broke an all-time high Thursday after the retailer blew past Wall Street’s expectations in its latest fiscal quarter and said it’s on track to hit a 2023 revenue target well ahead of schedule.
While supply-chain disruptions including heightened air-freight costs and factory closures in Vietnam remain headwinds, Lululemon has taken these factors into account in its updated outlook, Telsey’s Dana Telsey said in a note to clients. “The pandemic has accelerated Lululemon’s strategic initiatives and the company appears well-positioned to further capitalize on opportunities in a post-pandemic world,” she said.
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