The athleisure apparel retailer faces tough macro and competitive headwinds.Lululemon (LULU -0.13%) was one of the market's hottest apparel stocks. The yoga and athletic apparel maker's shares closed at a record high of $511.29 on Dec. 29, 2023, marking a 5,581% gain from its split-adjusted IPO price of $9 in July 2007. At the time, the bulls were dazzled by its robust growth and rosy long-term outlook.But today, Lululemon's stock trades at about $166. It declined nearly 57% in 2025, even as the S&P 500 adv ...