Lululemon Remains Expensive After The Deep Pullback, Still Not A Buy
LULUlululemon(LULU) Seeking Alpha·2024-09-07 00:00
I Like That One We previously covered Lululemon (NASDAQ:LULU) (NEOE:LULU:CA) (TSX:LLL:CA) in May 2024, discussing how the COVID-19 darling had met painful corrections, thanks to the uncertain macroeconomic outlook, impacted consumer discretionary spending, and intensifying athleisure market competition. Despite the drastic correction, we believed that bullish support had yet to materialize, with more retracement and uncertainty likely - resulting in our initial Hold (Neutral) rating. Since then, LULU ha ...