The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
VANCOUVER, Canada — Yogawear maker Lululemon Athletica Inc. posted second-quarter profit that just topped analysts' estimates after new tank tops and floral bottoms helped fuel sales.
Profit was 34 cents a share in the quarter ended Aug. 2, the Vancouver-based company said in a statement Thursday. The average of analysts’ estimates compiled by Bloomberg was 33 cents.
Chief Executive Officer Laurent Potdevin is increasing the company's stock of seasonal products that have a stylish elements — like open-backed tops and floral-patterned leggings — to appeal to customers wearing the clothing outside of yoga studios. The retailer also is working to expand its international presence and increase its foothold among male customers by adding more floor space for men's products.
The company said it expects full-year revenue of $2.03 billion to $2.06 billion and diluted EPS of $1.87 to $1.92. In June, Lululemon forecast sales of $2 billion to $2.05 billion and diluted EPS of $1.86 to $1.91.
By Lindsey Rupp; editors: Nick Turner, Thomas Mulier, Marthe Fourcade.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.