Lulu’s Fashion Lounge downgraded to Sector Weight from Overweight at KeyBanc

KeyBanc analyst Noah Zatzkin downgraded Lulu’s Fashion Lounge to Sector Weight from Overweight without a price target. The analyst cites softening reopening tailwinds, difficult sales compares in the first half of 2023 and high inventory levels for the downgrade. The firm believes the e-commerce and apparel retail industry will continue to face headwinds in 2023.