14:36 ET - Jefferies says Lululemon Athletica is making progress restoring the merchandise assortment that helped build its brand, but warns investors not to mistake that for a near-term turnaround. The brokerage said recent store checks found cleaner merchandising and a return to more neutral colors, though rebuilding consumer trust, stabilizing store traffic and improving productivity are likely to take several quarters. Jefferies maintained its Hold rating and $115 price target, noting purchase consideration and foot traffic remain under pressure while sales productivity and margins continue to deteriorate. The firm expects any broader strategic reset under incoming Chief Executive Heidi O'Neill to become more of a 2027 story than a catalyst for near-term earnings. (anvee.bhutani@wsj.com)

(END) Dow Jones Newswires

July 08, 2026 14:36 ET (18:36 GMT)

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