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Lululemon Stock: Buy LULU for 2020 on Broad Athleisure Growth?

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Lululemon LULU shares have skyrocketed 90% in 2019 to easily outpace giants such as Nike NKE and Adidas ADDYY. And the stock has already bounced back from its brief-post Q3 earnings selloff.

Lululemon’s success helped jump start the athleisure age and has forced everyone from Gap GPS and L Brands’ LB Victoria’s Secret to Target TGT all roll out their own athleisure brands and styles. LULU’s ability to expand its reach in the digital age has been vital.

The company has also grown through it own stand-alone brick and mortar expansion, as the likes of Nordstrom JWN, Macy’s M, and other department stores fade. Along with its successful women’s athleisure and athletic offerings, the firm has pushed further into outwear and hopes to compete against Canada Goose GOOS and The North Face (VFC - Free Report) .

Lululemon also now sells far more work-appropriate clothing, self-care products, and more. On top of that, LULU executives expect to double the size of the company’s menswear business by 2023 and expand in Asia.

Lululemon is a Zacks Rank #2 (Buy) right now that might be worth buying for 2020, especially when you take a look at its longer-term outlook.

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