Bernstein Senior Analyst Aneesha Sherman shares her insights on the athletic wear stocks, particularly Lululemon as it continues to capture more market share from luxury retail consumers.
"Year-to-date, in January continuing into February and early March, the trends have been very weak in the US market, in particular. Management talked about this on the call yesterday, they said there was some challenging US consumer dynamics — traffic is flowing, conversion is flowing," Sherman says."I think it's a combination of macro, the middle-income consumer is getting squeezed right now and that is the Lulu consumer...
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