Why Lululemon Shares Are Falling Today
Portfolio Pulse from Vaishali Prayag
Lululemon shares fell due to broader sector weakness after Foot Locker and Abercrombie & Fitch reported earnings. Despite better-than-expected results, these reports failed to boost sector confidence. Lululemon is set to release its earnings soon, with analysts maintaining a positive outlook.
August 28, 2024 | 8:28 pm
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NEGATIVE IMPACT
Lululemon shares fell 4.55% due to sector weakness after Foot Locker and Abercrombie & Fitch earnings. Analysts remain positive with a Buy rating and a price target of $387.72, indicating potential upside.
Lululemon's stock decline is linked to broader sector weakness after Foot Locker and Abercrombie & Fitch earnings. Despite this, analysts maintain a positive outlook, suggesting potential recovery.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Abercrombie & Fitch exceeded earnings expectations, but the sector's negative sentiment led to a sell-off affecting stocks like Lululemon.
Despite Abercrombie & Fitch's strong earnings, the sector's overall negative sentiment led to a sell-off, impacting related stocks.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Foot Locker reported a smaller-than-expected loss and slightly exceeded sales forecasts. Despite this, the sector saw a sell-off, impacting stocks like Lululemon.
Foot Locker's earnings were better than expected, but the overall sector sentiment remained negative, affecting related stocks.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50