24/7 legging life... Lululemon reports earnings on Thursday. Lulu found its zen in the WFH era thanks to the flexibility of its fits: athletic enough for a home yoga sesh, stylish enough for Whole Foods, and comfy enough for a Netflix binge. Direct-to-consumer revenue doubled in 2020 as Lulu's online sales dominated. We'll see how Lulu fared last quarter as the US reopened — retailers are seeing "revenge spending" on non-stretchy clothes.
A buzzy report... Canadian pot giant Canopy Growth reports earnings today before markets open. 2020 was a breakout year for cannabis: legal sales across the US hit a record $17.5B, up 46% from 2019. But Canopy's sales have also been growing thanks to "beyond the leaf" initiatives. Think: CBD-infused sparkling water, CBD wrinkle cream, and a Martha Stewart partnership. We'll see how those newer products performed compared to the leaf.