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Athleisure seen in downtrend

  • Quo Vadis Capital founder John Zolidis isn't blaming Amazon for the weak guidance issued by Dick's Sporting Goods (NYSE:DKS) and the resulting 23% slide in share price.
  • "The largest issue, in our opinion, is the end of the fashion athletic trend or 'ath-leisure' as it has been called. This trend, driven by Under Armour (NYSE:UAA) and Nike (NYSE:NKE) as well as Lululemon (NASDAQ:LULU) has been the most important contributor to DKS' same-store sales growth over the last several years, by our estimates. This trend is now officially over, in our opinion."
  • Zolidis says the death of athleisure has been confirmed in Nike futures orders growth, Under Armour results, Big Five (NASDAQ:BGFV) sales numbers and Hibbett Sports (NASDAQ:HIBB) earnings. "Our advice to investors is to continue to avoid the space," concludes Zolidis.
  • Bloomberg TV interview
  • Related stocks: GPS, YOGA, OTCQX:ADDYY, DSW, FL.

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