Sports-bra stand-off… Lockdowns may be over, but the leggings life isn’t. Lululemon’s sales soared 63% last quarter as shoppers visited Lulu’s digital and physical stores for stretchy tanks. Lulu’s on track to exceed its 2023 sales goals this year. But it's not all peace and vinyasa: Last week, Lulu sued Peloton over its “copycat” yogawear. And it has a fledgling revenue stream to grow: Lulu bought connected-fitness company Mirror for $500M. We’ll see whether the athleisure life is still revving when it reports on Thursday.
Just binged “Selling Sunset”… The housing market is still #thriving, with the median US home price hitting a record $360K last month. The boom has been good for the US’s largest homebuilders, including Lennar, Pulte Group, and Toll Brothers. US home sales are on track for their best year in more than a decade, and homes for sale just hit a new low. That translated into record income for Toll last quarter. But home building has cooled since peak pandemic, while rising costs for materials like lumber have pushed homebuilders to raise prices. We’ll see if that bruised Toll when it reports earnings tomorrow.