Gap Seeks To Steal Some of Lulu's Lemons (GPS, LULU)

Shares of red-hot yoga apparel retailer Lululemon Athletica Inc. (Nasdaq: LULU) are under a little pressure today (-0.8%) after Gap (NYSE: GPS) announced that its flagship Athleta store has opened in San Francisco.

Gap said the store:
"offers Athleta's collection of women's active lifestyle apparel for yoga, running, swim, gym, hiking and skiing – designed by and for female athletes -- as well as an array of other products for both athletic and everyday pursuits...... sound familiar?

...and this is just the start:
"This store opening launches the next phase of our multi-channel growth plan for the Athleta brand,” said Toby Lenk, president of Gap Inc. Direct, the division which houses the Athleta brand."

Should Lululemon shareholders be scared? YES

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