Where Data Tells the Story
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For almost two decades, Lululemon was the first and last word in luxury athleisure. Now, it’s the very last name in the S&P 500: LULU stock sank more than 18% on Friday, confirming it as the worst performer in the entire index in 2025 so far, down 56%.
Indeed, having notched just 1% sales growth in the US & Canada in its second quarter, as well as slashing its full-year guidance, the apparel maker appears to have hit a wall in its primary market.
Although the company cited tariffs as one reason why its margins have been under pressure — and noted that the official ending of the de minimis exemption on August 29 is likely to hurt its Canada-to-US supply chain even more — Lululemon has a more fundamental issue: falling out of fashion, just as its competition hits its stride.
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