Representative Image Lululemon Athletica cut its annual sales and profit forecasts on Thursday, as demand for its pricey leggings and tank tops slowed in North America amid selective consumer spending. Its shares swung between heavy losses and gains to settle 5% higher after the bell as the athleisure wear maker’s profit beat estimates and it…
SHANGHAI: Premium sportswear brands are enjoying robust growth in China as they take to directly courting their main customers, posing yet another setback to mega brands Nike and Adidas as they grapple with local competitors in the $55 billion sportswear market. Sportswear is a rare bright spot in China’s sluggish consumer market, as health and…
Lululemon Athletica beat Wall Street expectations for first-quarter profit and revenue on Wednesday, as a strong China business helped buffer a slowdown in consumer spending on pricey tank tops and leggings in its key North America market. Lululemon’s shares, which have declined about 40% this year, rose more than 10% in extended trading after the…
Lululemon Athletica will close its distribution center in the state of Washington at the end of the year and lay off more than 100 employees, the apparel retailer told Reuters on Friday. The Vancouver-based firm will shutter the Sumner distribution center as part of its business optimization effort and cut 128 jobs beginning June 21,…
Lululemon Athletica Inc on Thursday forecast fourth-quarter results below expectations, striking a cautious tone for the holiday season and sending shares of the premium apparel retailer down 2% in extended trading. The forecast, after a strong third-quarter show, mirrors sentiments from other U.S. retailers such as Walmart, Best Buy and Kohl‘s which have hinted at…
Peloton and athletic wear maker Lululemon have announced a five-year partnership, effectively closing the curtain on Lululemon’s recently acquired connected fitness device, Mirror. The interactive fitness company steps in to become the exclusive digital fitness content provider for Lululemon, which in turn becomes the primary athletic apparel partner to New York-based Peloton. Vancouver, British Columbia-based…
Lululemon Athletica said on Thursday its third quarter was “off to a solid start” as the North American business improves, and the yogawear maker lifted its annual profit and revenue forecasts for a second time. Shares in the company rose 1.6% in extended trading on the positive commentary. They had fallen some 4% in choppy…
