Market movers: Stocks seeing action on Friday - and why

High inflation, rising interest rates and the threat of a recession in the United States have resulted in a shift in consumer spending, impacting sales of apparel and sportswear as cash-strapped consumers focus on essentials.

The holiday season is off to a good start with strong traffic over the extended Thanksgiving weekend, Chief Finance Officer Meghan Frank said on a post-earnings call. Lululemon sees current-quarter profit between US$4.20 and US$4.30 per share, while analysts estimate US$4.30. “We think the negative reaction to the 3Q print is overblown,” he said. “Sales continue to be significantly above Consensus, and LULU noted several times that 4Q is off to a strong start . The balance of LULU’s growth continues to be incredibly encouraging—with men’s, women’s, accessories, North America, and International all continuing to grow double-digits on three-year CAGRs.

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