Shares of Lululemon (NASDAQ: LULU) have been beaten down over the past few years, but this week the stock popped more than 5% at times. A rotation out of tech stocks into consumer discretionary is the most likely reason for the gain. The rise, albeit small, is welcomed by investors who have watched the stock plummet by more than 75% over the past five years. The apparel company is facing a slew of problems. From declining revenue and comparable sales to a cut in full-year guidance and reputational damage, the challenges are vast for the new CEO, Heidi O'Neill, who took the helm just a month ago. In the second quarter of 2026, revenue fell 4% to $2.4 billion while comparable sales were down 9%. On the positive side, Lululemon carries no debt on its balance sheet and has about $1.4 billion in cash. The company is also buying back shares.
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