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.
NEW YORK, United States — Lululemon Athletica Inc. shares dropped in early trading after the yogawear retailer cut its revenue and earnings forecast for the quarter ending Feb. 2.
“Since the beginning of January, we have seen traffic and sales trends decelerate meaningfully,” Chief Financial Officer John Currie said in a statement today.
The stock fell 7.7 percent to $55 at 6:59 a.m. before the markets opened. For the fourth quarter, Vancouver-based Lululemon now anticipates revenue of as much as $518 million, down from a maximum of $540 million. Earnings will be 71 cents to 73 cents a share, compared with a previous forecast of 78 cents to 80 cents, according to the statement. Analysts estimated revenue of $541 million and earnings of 79 cents a share.
Lululemon is joining retailers from L Brands, owner of the Victoria’s Secret lingerie brand, to discounter Family Dollar Stores Inc. in reducing forecasts this month. The yogawear maker, which had to recall pants last year for being too sheer, named a new chief executive officer last month.
By Cecile Daurat; Editors: Cecile Daurat, James Callan
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.