0726 ET - Lululemon is facing a deteriorating North American market, and it can't bank on China to prop it up. Jefferies' Randal Konik says in a report that comparative sales were down2% in 1Q, compared with flat in 4Q and down 2% in 3Q. "Despite this decline, management continues to prioritize product newness and China expansion over addressing a pullback from core customers and evident traffic declines," the analyst says. While the Chinese market grew thanks to new store openings and the co-located store strategy which supported top-line for the quarter, "overall market dynamics suggest continued moderation." He says that the decelerating trend in comparative sales suggests "buying growth is short-term thinking and unsustainable." (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
June 06, 2025 07:26 ET (11:26 GMT)
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