NKE - Lululemon Stock Dips After Nike's Q4 Report: What's Going On? | Benzinga
Lululemon Athletica Inc. (NASDAQ:LULU) shares are trading lower Friday in sympathy with Nike, Inc. (NYSE:NKE) which fell after reporting its quarterly earnings.
The Details:
Nike shares have fallen more than 20% Friday after the company reported worse-than-expected fourth-quarter revenue and weak forward guidance.
Nike's CFO, Matthew Friend, revised the company's outlook for fiscal 2025 lower and now anticipates a mid-single-digit decline in reported revenue. Nike also projected first-quarter revenue to be down approximately 10% and a high single-digit decline in sales for the first half of the year.
Lululemon's most recent earnings beat expectations with total revenue up 10% in the first quarter, and total comparable sales increased 6% year-over-year. ...