Narrow-Moat Lululemon Opens Fiscal 2019 in Good Shape; Shares Overvalued
Narrow-moat Lululemon’s results in fiscal first-quarter 2019 slightly exceeded our forecast. The firm’s reported EPS of $0.74 beat our forecast of $0.71 because of a reduced share count from repurchases ($163.5 million in the quarter) and a lower tax rate, which was a result of a large stock-based compensation deduction (26.4% tax rate versus our forecast of 28.0%). Lululemon’s operating income of $128.8 million in the first quarter almost matched our forecast of $129.0 million. The firm reporte...lululemon athletica is a designer, distributor, and retailer of athletic apparel. Co.'s athletic apparel is marketed under the lululemon and ivivva brand names. Co. provides a line of apparel and accessories for women, men and female youth. Co.'s apparel assortment includes items such as pants, shorts, tops, and jackets designed for healthy lifestyle and athletic activities such as yoga, running, training, other sweaty pursuits, and athletic wear for female youth. Co. also provides fitness-related accessories. Co. primarily conducts its business through two channels: company-operated stores and direct to consumer. As of Jan 28 2018, Co. operated 404 stores.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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