The stock market ended higher on Tuesday as investors looked ahead to inflation data. Such could give the Federal Reserve cause to consider ending it rate hiking campaign.
Overall, S&P 500 rose 0.7% to 4,439, while NASDAQ was up 0.6% to 13,761.
Tweet of the Day
$INMD – $39.82
The stock looks poised to breakout into a new stage 2 base (knocking on the door).
EPS and sales growth is consistent and respectable.
No position. pic.twitter.com/4gmsA9DfbP
— Chris Perruna (@cperruna) July 10, 2023
Chart of the Day
Here is the one-year chart of Lululemon (LULU) as of June 28, 2023, when the stock was at $376.
Lululemon is a Canadian designer, distributor, and retailer of high-quality athletic appeal and accessories, marketed under the Lululemon brand. The brand is known for its technically advanced fabrics, with a superior feel and fit. Apparel items include pants, shorts, tops, and jackets designed for yoga, running, and training.
Lululemon’s profits soared 54% last quarter through the combination of strong revenue growth and a boost in profit margins. Sales rose 24% during the quarter, with same-store sales up 14%. Store and digital channel traffic jumped 30%. Gross profit margin increased from 53.9% to 57.5% mainly due to lower airfreight costs.
LULU is part of the Growth Portfolio and Aggressive Growth Portfolio.
