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

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Lululemon (LULU - Free Report) shares have skyrocketed 90% in 2019 to easily outpace giants such as Nike (NKE - Free Report) and Adidas (ADDYY - Free Report) . 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 - Free Report) and L Brands’ (LB - Free Report) Victoria’s Secret to Target (TGT - Free Report) 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 - Free Report) , Macy’s (M - Free Report) , 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 - Free Report) 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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