A Bull Market Is Coming: 3 Reasons to Buy Lululemon Stock
While it's almost impossible to predict when a bull market is going to happen next, investors have reason to be somewhat optimistic right now. Both the S&P 500 and the Nasdaq Composite are off to positive starts this year, a welcome sign for those trying to forget about the double-digit losses these two indices registered in 2022.
Amid the optimism, Lululemon Athletica (NASDAQ: LULU), whose shares are up 13% so far in 2023, looks like a business that deserves a place in your portfolio. It has long been a winning investment, and there's good reason to think it will continue this trend. Along those lines, here are three reasons to buy Lululemon stock.
In its most recent quarter, Q4 2022, which ended Jan. 29, Lululemon generated revenue of $2.8 billion, up 30% year over year. This was the 10th straight quarter that the business posted more than 22% year-over-year sales gains, a tremendous feat given the multitude of events that have happened since then, including the pandemic, supply chain issues, and now soaring inflation.
Source Fool.com
