Lululemon, new chief, new highFriday, 08 July 2011
Lululemon Athletica owned Thursday session in Wall Street after scoring a new high.
It added 2.61 to 121.36. The stock is now strained 18% past a 102.93 buy point cleared June 21. The specialized athletic wear retailer will split 2-for-1 July 12. That would be its first split since coming public nearly four years ago. Besides, the company just announced the appointment of a new senior vice president with responsibility for global e-commerce. Chris Ladd comes from footwear manufacturer and retailer Crocs Inc., where he most recently was senior vice president of global marketing and direct channel. Its shares closed up by over 2%, entering the top 5 group for third consecutive day.
Still in American soil, shares of Urban Outfitters Inc. jumped Thursday, after an analyst boosted his rating for the clothing retailer, saying that after lagging the industry for much of the year it's poised for long-term profit growth. Morgan Stanley's Kimberly Greenberger raised her rating for Urban Outfitters to "Overweight." She also boosted her fiscal year 2012 earnings prediction to $1.98 per share. Analysts, on average, expect a fiscal 2012 profit of $1.93 per share, according to a FactSet survey.
So far this year, Urban Outfitters' shares are down about 14 percent, while shares of the overall sector it competes in are up a combined 13 percent. However, on Thursday its shares were up $2.10, or 6.8 percent, to $32.85 in afternoon trading. The stock has traded between $27.96 and $39.26 over the past year.
In the UK, SuperGroup was up 60p to reach 975p per share. City´s rumour was that its next update -- on July 13 -- will show stellar growth figures again and fears that it has fallen out of favour have been over-done.