The athletic apparel and footwear industry has been underperforming throughout 2024. CFRA analyst Zachary Warring joins Market Domination to discuss his...
The athletic apparel and footwear industry has been underperforming throughout 2024. CFRA analyst Zachary Warring joins Market Domination to discuss his outlook on the athleisure space.
So it's been sort of a mixed picture here, Zach, but I wanna, I wanna sort of put it together here because are we seeing macro headwinds to the consumer affecting especially the higher end so called athleisure brands or are we seeing more of a brand by brand execution reckoning here?So I think um there is, uh you know, a little bit of macro creeping in, you know, I think it's even getting to the high income consumer at this point.
Yeah, so you, you've hit on, you know, two of the names that are obviously performing extremely well right now, um in terms of share price, but, you know, we really like the companies that have been beaten down, um that have really strong brands that we think um expectations are extremely low.Um So we really like companies like Lululemon, we think, you know, here at almost 17 times the next, you know, 12 month earnings, this is a, you know, pound the table buy here.
Um But we do think, you know, it is, I think it's been overplayed here, I think to the downside just because, you know, I think investors have gotten a little bit scared thinking that they might, you know, not grow anymore, but, you know, estimates are still at 10 to 11% for this year in terms of revenue.Um So it's not like you're seeing, you know, a decline, um like some of these other companies are within the space.
Um, and then it trades at an extremely steep multiple and we think, you know, the consumer feeling really stretched right now.
Zachary Warring Market Domination Footwear Industry
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