The world of apparel is ever changing. Lululemon Athletica (LULU 1.10%) is feeling the brunt of a recent consumer change, as shoppers flock to competing retail brands and spend less on athleisure than during the heart of the pandemic.
Earnings season was a surprising success for a large portion of the S&P 500, as companies demonstrated unexpected resilience despite tariff wars, worrisome economic data, and declining sentiment. Strong reports have fueled major indices to new all-time highs, but not every industry leader is gaining ground.
Lululemon Athletica (LULU) filed a lawsuit against Costco Wholesale (COST), accusing the warehouse retail giant of infringing on its trademarks by selling clothing that is "confusingly similar" to designs trademarked by Lululemon.
Lululemon is going after Costco, saying it ripped off its chinos and yoga jackets. The athleisure brand filed a lawsuit on Friday, saying Costco had created "confusingly similar" dupes.
Investor sentiment appears to be broadly improving since President Donald Trump dialed down some of his threatened tariffs for the time being. As a result, the market has slowly been rising back toward its record high.
Canadian athletic wear maker Lululemon sued Costco in California federal court on Friday, alleging that the wholesaler sells "knockoff" sweatshirts, jackets and pants that unlawfully copy its products.
Lululemon stock price crashed from its all-time high in 2024 to a low of $225, its lowest level since May 20. LULU stock plunged by over 55% from its highest point in 2023, bringing its market capitalization to $29 billion, down from the all-time high of $68 billion.
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