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Lululemon Plunges 20%, Trades at Lowest Level in 8 Years
24/7 Wall St.14d agobearish
Lululemon Plunges 20%, Trades at Lowest Level in 8 Years

Lululemon shares cratered to an eight-year low after the company gutted its full-year outlook, and with a brand new CEO stepping in next week and leggings sales in freefall, the question is whether anyone can stop the bleeding.

Investing.com15d agoneutral
BMO cautious on softlines, bearish on athletic names

Investing.com -- BMO Capital Markets has launched coverage of the softlines retail, apparel and footwear sector with a cautious stance, warning in a note that a weakening consumer and rising costs cloud the outlook for the group into fiscal 2027.

Job One for Lululemon’s New CEO: Yoga With Employees
The Wall Street Journal16d agoneutral
Job One for Lululemon’s New CEO: Yoga With Employees

Lululemon Athletica’s new chief executive immersed herself in the company’s culture on day one by taking a yoga class with employees at the company’s Vancouver, British Columbia headquarters. Heidi O’Neill also said in a blog post Tuesday that she plans to hold a fireside chat with employees later this week where she will share more about her background and answer questions.

Lululemon Drops to Eight-Year Low With New CEO Inheriting a Mess
Bloomberg20d agobearishVIDEO
Lululemon Drops to Eight-Year Low With New CEO Inheriting a Mess

Lululemon Athletica Inc. lowered its full-year outlook for a second straight quarter, reflecting the deepening challenges incoming Chief Executive Officer Heidi O'Neill will face when she takes over the top job next week.  Sales are now projected to be in a range of $10.35 billion to $10.5 billion in the current fiscal year that ends in early 2027. That's down from June's annual forecast, which was itself reduced from the previous view. The company also trimmed its outlook for earnings per share after reporting its first decline in comparable sales since the pandemic when they temporarily stopped reporting the measure. We get reaction from Poonam Goyal, Senior US Retail Analyst for Bloomberg Intelligence.

What's Moving Markets Today?
The Wall Street Journal20d agoneutral
What's Moving Markets Today?

The Dow Jones Industrial Average, S&P 500 and Nasdaq edged lower today as a strong August jobs report provided another datapoint for Federal Reserve policy expectations. Also, diesel prices hit a record high, and another retail brand, Lululemon Athletica, took an earnings hit.

Lululemon Falls on China Business; Tesla Cybercab Service | Stock Movers
Bloomberg20d agobearishVIDEO
Lululemon Falls on China Business; Tesla Cybercab Service | Stock Movers

On this episode of Stock Movers: - Lululemon (LULU) shares are diving as its China business is showing signs of strain, with revenue in mainland China falling 2% in the second quarter after adjusting for currency fluctuations. - Tesla (TSLA) shares are lower on news it formally rolled out the Cybercab for robotaxi service, a long-anticipated step in Elon Musk's effort to push the company away from its roots as an auto manufacturer. The US National Highway Traffic Safety Administration opened a probe into the process and technical data on which Tesla relied when it self-certified the vehicles as compliant with federal safety standards. - Robinhood (HOOD) is down as AMC Entertainment boss Adam Aron criticized Robinhood Markets Inc. after the platform launched a tokenized version of the theater chain's shares.