Lululemon Athletica’s stock hasn’t gone very far since its six-month stay as a stay-at-home darling in the immediate aftermath of the pandemic bear market. Its second-quarter earnings might just be the catalyst it needs to get moving again.
The stock (LULU) rose 184%, to $398.29, on Sept. 2, 2020, from $140.36 on March 18 of that year—and then it stalled. It’s not that Lululemon has done anything wrong, per se. The drop began with a downgrade, one that cited its valuation—it traded at over 11 times 12-month forward sales estimates…
