Ignore Nike, Buy This Magnificent Growth Stock Instead

(NYSE: NKE) hasn't been much of a growth stock lately. The footwear giant reported a modest sales decline in the most recent quarter, in fact, and management projected even weaker results ahead for the second half of fiscal 2024.

Growth stock investors can do better.

There's a different industry retailer that's reporting strong sales and earnings growth right now. Its profit margins aren't being hurt by price cuts in the industry, either. And, while Lululemon Athletica's (NASDAQ: LULU) stock isn't cheap, investors are getting tons of value in exchange for that premium. Let's look at why you might want to splurge on this magnificent growth stock over Nike right now.

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Source Fool.com