Nike and Lululemon are two of the most well-known athleisure stocks. Both meaningfully outperformed the S&P from year-end 2019 through the pandemic plunge to year-end 2021, and both have seen dismal performances since. Nike, which will report earnings this week, is down almost 50% from its November 5, 2021, all-time highs. Lululemon’s all-time high occurred more recently, on December 29th, 2023, the last trading day of the year. However, its performance from that recent peak to the present is essentially the same as Nike’s. Lulu has fallen more than 45% year-to-date.
