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Lululemon’s Fiscal First Quarter Results Well Received But Competition Remains Fierce

publication date: Jun 6, 2024
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Image: Lululemon’s shares have been under considerable pressure so far in 2024. 

We think Lululemon’s Power of Three x2 initiatives are achievable, but hitting these long-term targets won’t be easy given increasing competition in the athleisure space from Vuori and others. Shares of Lululemon have fallen quite a bit since peaking in December of last year. We won’t be adding Lululemon to any newsletter portfolio anytime soon, and our $350 per share fair value estimate remains unchanged.

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