Nike Nudged Lower While Lululemon Soars
Companies across the spectrum continue to warn about tepid consumer demand, especially regarding discretionary goods purchases. And that trend remains prevalent in the footwear and apparel space, where Nike lives. 👟
Today, the industry giant is in the news after its sales fell short of expectations for the second straight quarter. Revenue of $13.39 billion missed the $13.43 billion anticipated, while earnings per share of $1.03 topped the expected $0.85.