大行评级丨花旗:维持Lululemon“中性”评级,上季销售远逊预期并大削指引

格隆汇
Sep 04
花旗发表报告指,Lululemon第二季每股盈利2.92美元,剔除关税退款得益后为2.06美元,高于市场预期1.8美元及该行预期1.9美元。总销售同比跌4.3%,逊于市场预期跌2.7%及公司原先指引跌2%至3%;同店销售跌10.0%,市场预期跌5.4%。美洲同店销售跌12.0%,市场预期跌12.5%;中国同店销售跌8.0%,远逊市场预期升12.9%。管理层将2026财年每股盈利指引下调至9.48至9.73美元,总销售指引改为跌5%至7%。该行指,公司在中国市场方面因代理权争夺相关负面舆论、使用化学品PFAS争议及长城活动太鼓事件等品牌负面社交媒体影响,需加大投放以挽回消费者。该行维持对其“中性”评级及目标价130美元。

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