Fashion brand Lulu’s jumps after raising FY revenue forecast
18/05/2022 19:32
** Shares in Lulu’s Fashion Lounge Holdings LVLU.O up
11.24% at $11.18 in afternoon trading
** Stock could close at its highest since mid-Feb 2022, if
gains hold
** Co said after market close on Tuesday it now expects FY22
revenue between $490 mln and $500 mln, up from prior forecast of
$480 mln to $490; new outlook is ahead of analyst estimates of
$486.9 mln, per Refinitiv data urn:newsml:reuters.com:*:nL3N2X93E6
** "LVLU's growing brand awareness, scalable operating
model, category expansion initiatives, and international growth
opportunities are likely to bolster the company's competitive
positioning" - Jefferies
** Brokerage also raises PT to $26 from $25 following Q1
results; reiterates "buy" rating
** Including session gain, shares up ~9.7% YTD
(Reporting by Manya Saini in Bengaluru)
((Manya.Saini@thomsonreuters.com;))