Is Lululemon headed for the same fate as Under Armour? - analyst [Seeking Alpha]
Under Armour, Inc. Class C (UA)
Last under armour, inc. class c earnings: 2/11 06:55 am
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Source: Seeking Alpha
could derail the company and cause its metrics to “hit a wall and inflect negatively.” The comparison to Under Armour's (UA, UAA) decline drove Jefferies analyst Randal Konik to cut his price target on Lululemon ( LULU ) by 37% to $240. Shares are down 2% on Thursday. While Konik thinks Lululemon's ( LULU ) market share gains have been robust, are they sustainable? Since 2014, Lululemon ( LULU ) has nearly tripled its share of the American sportswear market to 4.5% in 2023. By comparison, Nike's ( NKE ) market share improved to 18.1% from 17.3% while Adidas' (ADDYY, ADDDF) declined to 4.9% from 6.8% and Under Armour's (UA, UAA) dropped to 3.4% from 3.8%. “While LULU's share gains over the past several years could be viewed positively, we believe improvements from current levels could prove more difficult as current brand share sits at peaks similar to those of UAA and Adidas,” Konik said. Besides losing market share to Alo/Vuori, Konik sees Lululemon ( LULU ) missing the shift
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