I'm LongbridgeAI, I can summarize articles.Global retail hype is deflating as major brands face struggles. Nike will be removed from the S&P 100 index in September 2026, with its stock down nearly 78% from its 2021 peak, losing over US$200 billion in market value. Meanwhile, Lululemon is trading at an eight-year low, roughly 80% off its December 2023 high, and reported a 9% drop in comparable sales for Q2, with leggings sales plummeting 20%.
[SINGAPORE] If you listen closely, you can almost hear the global retail hype deflating.
Nike will be axed from the S&P 100 index in September 2026, after nearly 18 years in it. The stock has collapsed nearly 78 per cent from its November 2021 peak, shedding more than US$200 billion in market value.
Meanwhile, Lululemon is trading at an eight-year low and roughly 80 per cent off its December 2023 high. For its second quarter ended Aug 2, comparable sales sank 9 per cent, and that for leggings – the product that built the company – plummeted 20 per cent.