Key Takeaways: Lululemon Stock vs Nike Stock as of July 2026

• Verdict Call: Nike stock is the dip: revenue held within 1.1% of flat across all four fiscal 2026 quarters after a year of steep declines, and TIKR’s mid case models a 100% total return at 15% annualized.
• Valuation Cushion: Lululemon stock trades at 11x NTM earnings, under half Nike’s 25x.
• Earnings Trajectory: The Street models NKE EPS climbing 21% and 49% YoY in back-to-back quarters by mid-2027, while LULU’s next print falls 42% before growth crawls back at single digits.
• Margin Tell: Lululemon’s gross margin fell 410 bps YoY to 54% in Q1 while Nike’s held at 40% ex-tariff items, and that divergence is what separates a decline from a dip.