Lululemon Downgraded: Goldman Analyst Flags Competitive Pressures, Weak Innovation, Lower Traffic
Goldman Sachs analyst Brooke Roach downgraded Lululemon Athletica Inc. LULU to Neutral from Buy, lowering the price forecast from 286.Following recent execution challenges, lackluster innovation launches, and rising evidence of more regular promotionality, the analyst sees more balanced risk-reward for the stock.The analyst flags that Lululemon’s store traffic has declined in each month of 2024, which marks a material slowdown compared to the 2023 trend. Traffic versus the key peers has also been f ...