Lululemon’s (LULU) decision to partner with Fanatics to sell NFL apparel is a “questionable move” that signals deeper strategic confusion, Jefferies tells investors in a research note. The firm, which has an Underperform rating and $120 price target on the shares, says the partnership highlights Lululemon’s pattern of chasing non-core growth at the expense of brand clarity, puts at risk further erosion of Lululemon’s premium positioning.
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