Nike and Lululemon Face Market Challenges Amid Gloomy Forecasts

Shares of both companies tumble as they navigate retail sector headwinds and plan strategic shifts to regain momentum.

Nike and Lululemon's share prices plummet following gloomy financial forecasts, signaling challenges in the retail sector.
Nike plans to focus on trendier sneakers and trim supplies of classic shoes, aiming to revitalize its market share.
Lululemon struggles with demand slowdown in North America, despite modest international growth.
Analysts cut price targets for both companies, reflecting concerns over their near-term financial outlooks.
Both brands anticipate leveraging the 2024 Summer Paris Olympics to boost their profiles.