Lululemon stretches higher, Canada Goose flies high, RH gets hammered
Here’s for a look at some of the stocks the Yahoo Finance team will be watching for you today.
Things are starting to look up for Lululemon (LULU). Shares were higher after the yoga-apparel retailer delivered a beat on both its top and bottom lines for the first quarter. Revenue jumped 5% thanks to strong sales of new products. The company also said it plans to close 40 of its Ivivva-branded stores for young girls and shift the brand mostly online.
Investors are fluffed up over shares of Canada Goose (GOOS) this morning. The stock was up sharply. In its first earnings report since going public in March, the upscale outerwear maker came in with a smaller-than-expected loss and revenue that blew past analysts’ estimates. Sales surged 22% from a year ago.
On the flipside, shares of RR (RH), formally known as Restoration Hardware, got hammered this morning. The stock tanked—even though the high-end furniture retailer reported better-than-expected revenue for the first quarter and earnings that matched estimates. The company cut its profit outlook for the year. It blames the uncertain macro environment and some new initiatives such as moving to a membership model and launching cafes in its stores.
In the tech sector, shares of Broadcom (AVGO) jumped in early trading. The chipmaker gave strong guidance for the current quarter after it posted earnings and revenue that topped analysts’ estimates the prior quarter. Revenue soared 18% from a year ago.
