Lululemon Athletica Inc LULU:NASDAQ

Last Price$302.76NASDAQ Previous Close - Last Trade as of 3:57PM ET 1/26/22

Today's Change-6.07(1.97%)
Bid (Size)$302.00 (1)
Ask (Size)$310.00 (1)
Day Low / High$299.17 - 319.76
Volume1.5 M

Department Stores, Specialty Retailers Buoyed by 'Very Good' Black Friday Mall Traffic, B. Riley Says

3:06PM ET 11/29/2021 MT Newswires
Department stores and specialty retailers benefitted the most from "very good" mall traffic this past Black Friday amid stonger urge for in-person shopping, driven largely by a spending shift towards apparel and footwear from home and hard goods in 2020, B. Riley Securities said Monday.

"We believe consumers returned in force back to in-person shopping this [Black Friday] despite retailers starting their deals earlier in an effort to spread out holiday traffic and better manage their inventory," B. Riley Analysts Susan Anderson said in a note.

American Eagle Outfitters (AEO), Abercrombie & Fitch (ANF), Bath & Body Works (BBWI), Lululemon Athletica (LULU), Urban Outfitters (URBN) and Victoria's Secret (VSCO) saw the strongest traffic and were also among the stores with the most bags in malls, helped primarily by teen and young adult consumers. Denim, footwear, fashion apparel, outerwear and seasonal dress emerged as the most popular items, Anderson said.

Off-mall and big-box traffic was lighter this year due to deals being spread out, according to the analysts.

While Under Armour's (UAA) Black Friday promos were higher from 2020, not many retailers increased the depth of their promos, with certain retailers opting to hold promos flat or present them differently. Most sporting good and department store retailers had lower promotions from last year, with Dick's Sporting Goods (DKS) seeing significantly lower promos, the analysts said.

Price: 26.59, Change: -0.23, Percent Change: -0.84