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 — Lululemon Athletica Inc. dropped after the company reported revenue that fell short of expectations, with a doubling of online e-commerce not enough to compensate for shuttered stores.
The Vancouver-based retailer said online sales climbed 70 percent in the quarter that ended May 3 after excluding currency impacts. Including brick-and-mortar stores, revenue was $652 million, which was short of analysts’ estimate for the first time in almost four years.
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Shares fell as much as 8.4 percent in after-market trading. The stock, which has 23 buy recommendations from analysts, 12 holds and one sell, advanced 33 percent this year through Thursday’s close.
By Sandrine Rastello
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.