By macleans.ca - Monday, March 18, 2013 - 0 Comments
At a recent Lululemon meeting, store managers complained to corporate about the quality of…
At a recent Lululemon meeting, store managers complained to corporate about the quality of the company’s black luon yoga pants for women—it seems customers were finding them to be too sheer.
Lululemon recalled the product, which makes up about 17 per cent its women’s bottoms. The company estimated this would cause a $10 to $20 million drop in revenue, which in turn caused a eight per cent drop in the company’s stock today.
The Vancouver-based company said the product didn’t live up to its standards, and that it is working with the manufacturing to rectify the situation. They also answered many more questions about the recall here.
By The Canadian Press - Tuesday, January 15, 2013 at 1:21 PM - 0 Comments
VANCOUVER – Lululemon Athletica Inc. shares are down more than seven per cent in…
VANCOUVER – Lululemon Athletica Inc. shares are down more than seven per cent in early going following fourth-quarter earnings projections from the clothing retailer.
The Vancouver-based company (TSX:LLL) expects sales to be at the high end of its guidance and earnings will be better than the company expected.
However, Lululemon’s updated sales guidance missed analyst estimates by several million dollars — adding weight to concerns that its growth is slowing. Continue…
By Sunny Freeman - Friday, January 4, 2013 at 3:32 PM - 0 Comments
Stock market darling Lululemon Athletica Inc. (TSX:LLL) saw its shares fall 5.2 per cent…
Stock market darling Lululemon Athletica Inc. (TSX:LLL) saw its shares fall 5.2 per cent in Friday afternoon trading after an influential firm downgraded the stock in anticipation of slower growth ahead.
Shares in the yoga wear retailer lost $3.85 to $70.41 amid a report from Credit Suisse that downgraded Lululemon’s rating to “neutral” from sector “outperform,” citing a likely slowdown in comparative sales momentum and the risk of further merchandise margin pressure.
Lululemon has been a favourite of many investors as it consistently boosted quarterly profits and revenues in an otherwise struggling retail industry. Continue…
By The Canadian Press - Thursday, December 6, 2012 at 10:24 AM - 0 Comments
VANCOUVER – Yoga-inspired retailer Lululemon Athletica Inc. warned Thursday that it expects slower sales…
VANCOUVER – Yoga-inspired retailer Lululemon Athletica Inc. warned Thursday that it expects slower sales growth in the final three months of this year.
In its outlook, the company (TSX:LLL) projects comparable-store sales growth in the high single digits in the fourth quarter, which began Oct. 29. That’s down from 18 per cent comparable-store sales growth in the third quarter.
The restrained outlook came as Lululemon reported a $57.3-million profit in its latest quarter as it grew revenue by 37 per cent.
Vancouver-based Lululemon said it earned 39 cents per diluted share in the third quarter, up from $38.8 million or 27 cents per diluted share a year ago. Revenue amounted to $316.5 million for the quarter ended Oct. 28, up from $230.2 million.
“I am very proud of the team for achieving yet another strong quarter coming in ahead of our expectations,” Lululemon chief executive Christine Day said in a statement. Continue…