The athletic apparel and footwear industry has been underperforming throughout 2024. CFRA analyst Zachary Warring joins Market Domination to discuss his outlook on the athleisure space.
Warring attributes the sector’s challenges to macroeconomic headwinds and weakening consumer spending. However, he notes, "there are some companies that have been able to grow through this." He identifies Lululemon (LULU) and Nike (NKE) as retail names currently presenting good buying opportunities, despite the consumer slowdown affecting their multiples. He stresses that these brands still have growth potential.
Addressing competition concerns, particularly for Lululemon, Warring tells Yahoo Finance: "I think investors have gotten a little bit scared thinking that they might not grow anymore, but estimates are still at 10 to 11% this year in terms of revenue… so it’s not like you’re seeing a decline."
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