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☆ Lululemon cuts guidance, misses sales estimates after botched product launch
▼ + stars: | 2024-08-29 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

Lululemon lowered its guidance and posted its first revenue miss in more than two years on Thursday after it botched a highly anticipated product launch and growth slowed in the Americas. Lululemon anticipates earnings per share will be in a range of $13.95 to $14.15, down from previous guidance of $14.27 to $14.47. Beyond total sales, Lululemon also missed expectations on comparable sales, which grew 2%, well behind estimates of 5.9%, according to StreetAccount. During the quarter, Lululemon pulled its Breezethrough leggings, launched in early July, after it received a wave of complaints about the product's unflattering fit. Lululemon's product challenges follow the departure of its longtime chief product officer, Sun Choe, who resigned in May to pursue another opportunity.

Persons: Lululemon, Calvin McDonald, McDonald, Lululemon's, Sun Choe, Jonathan Cheung, Nikki Neuburger, Neuberger, Gross Organizations: Lululemon Athletica, LSEG Locations: New York, Americas, U.S, China

☆ Lululemon shares pop 12% despite lackluster earnings report and guidance
▼ + stars: | 2024-06-05 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Lululemon's full fiscal year guidance suggests the company is betting conditions will improve in the back half of the year. As growth in the Americas slows, Lululemon issued weak guidance for the current quarter. It expects revenue to be between $2.40 billion and $2.42 billion, just below estimates of $2.45 billion, according to LSEG. For the full year, Lululemon expects earnings per share to be between $14.27 and $14.47, ahead of the $14.11 that analysts had expected. It's expecting revenue to be between $10.7 billion and $10.8 billion, which is in line with expectations, according to LSEG.

Persons: Lululemon, Wall, Calvin McDonald, McDonald, Sun Choe Organizations: LSEG Locations: Shanghai, China, Americas

☆ Lululemon dominated the pricey athleisure market for years. Now it faces big competition
▼ + stars: | 2024-06-05 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +5 min

The departure of the company’s chief product officer adds to a “wall of worry” Raymond James analysts said. Choe joined Lululemon more than seven years ago and became chief product officer in 2018, according to her LinkedIn. “I think that there’s a lot of people out there who believe that she was the person behind the scenes and was the most instrumental to Lululemon’s success,” Nikic said. Lulu has been “hyper aware” of dupe culture, Nikki Neuburger, then its Chief Brand Officer, previously said in an interview with CNN Business. However, Lululemon wasn’t stocked enough in these smaller sizes, which could have led these younger shoppers to competitors, Nikic said.

Persons: New York CNN —, Lulu, Alo, –, Sun Choe, ” Raymond James, Choe, Raymond James, Tom Nikic, “, ” Nikic, Mike Kemp, Vuori, Nikki Neuburger, Hailey Bieber, Martha Stewart, Lululemon, Nikic, Calvin McDonald, Samsul Said Organizations: New, New York CNN, preteens, Nike, Wall, Vans, CNN, Jefferies, CNN Business, Shoppers, Bloomberg, Getty Locations: New York, athleticwear, Covent, London, United Kingdom, Los Angeles, preteen, Bukit Bintang, Kuala Lumpur, Malaysia, China

"Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending," McDonald's CEO Chris Kempczinski said on the company's conference call in late April. Paul Weaver | SOPA Images | Getty ImagesFor more than two years, consumers have dealt with sharply rising prices. But that doesn't mean the actual prices seen on grocery store shelves or restaurant menus will fall, and shoppers are feeling that pinch. While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending. Corporate misfires can also lead to disappointing sales, even if their shoppers aren't necessarily pulling back on their spending.

Persons: Chris Kempczinski, Burger, Paul Weaver, Jerome Powell, Aurelia Concepcion, Concepcion, it's, Joe Raedle, Brett House, John David Rainey, Ramon Laguarta, Ed Bastian, We're, Daniel Slim, Brian Niccol, Calvin McDonald, Laxman Narasimhan, Sara Senatore, Spencer Platt Organizations: DAL, Washington Post, Home, Delta Air Lines, Consumers, of Labor, CPI, KFC, Starbucks, Columbia Business School, Walmart, Finance, CNBC, PepsiCo, Gatorade, Pepsi, United, Delta Airlines Boeing, Owen Roberts International, AFP, Getty, Delta, Target, Bank of America Locations: Manhattan, Bloomsburg , Pennsylvania, New York, Georgia, Ohio, Miami , Florida, U.S, Delta, Europe, Asia, Japan, George Town, Cayman Islands, New York City

☆ Shoplifting's biggest enablers might be the retailers themselves
▼ + stars: | 2024-04-16 | by ( Alex Bitter | Dominick Reuter | ) www.businessinsider.com time to read: +7 min

But Walmart, Target, and other chains's own policies and practices could be worsening the problem. From conflicting policies to understaffing, retailers can make it hard for workers to prevent theft. That's because major retailers, including Walmart, Target, and others, have policies that sometimes prevent their own staff from addressing shoplifting at their stores, current and former employees told Business Insider. Among the report's recommendations for retailers: Hire enough employees at stores, and make sure they aren't constantly overworked. Do you work at Walmart, Target, or another major retailer and have a story idea to share?

Persons: —, Rhea Gordon, Gordon, Lululemon, Calvin McDonald, Santino Burrola, Thea Sebastian, Hanna Love, Sebastian, Love, everything's Organizations: Walmart, Target, Service, Business, BI, CNBC, company's, Futures Institute, Brookings Locations: North Carolina, Colorado, California, Montana

☆ Lululemon shares plunge 16% on weak guidance, slowing North America growth
▼ + stars: | 2024-03-21 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

The retailer reported holiday earnings on Thursday evening that topped expectations, but showed that its growth in North America is stagnating. During the quarter, sales rose 9% in the Americas, compared to 29% growth in the year-ago period. For the current quarter, Lululemon expects net revenue to be between $2.18 billion and $2.20 billion, representing growth of 9% to 10%. For the full year, it expects sales to be between $10.7 billion and $10.8 billion, compared with estimates of $10.9 billion, according to LSEG. During the quarter, it opened its first men's store in Beijing — a key growth market for the company.

Persons: Lululemon, you've, Calvin McDonald, McDonald, Alo Yoga, it's, Meghan Frank Organizations: LSEG, U.S Locations: U.S, North America, Americas, China, Vancouver, Beijing

☆ Walt Disney Nominates 12 to Board of Directors, Says CEO Iger’s Compensation Doubled in 2023
▼ + stars: | 2024-01-17 | by ( Sabela Ojea | ) www.wsj.com time to read: 1 min

Photo: PHIL MCCARTEN/REUTERSWalt Disney recommended shareholders vote for its 12 nominees to the company’s board of directors and said Chief Executive Robert Iger ’s total compensation doubled in fiscal 2023. The company nominated Chairman Mark Parker to the board, as well as Mary Barra , Safra Catz , Amy Chang , Jeremy Darroch , Carolyn Everson, Michael Froman , James Gorman, Robert Iger, Maria Elena Lagomasino , Calvin McDonald , and Derica Rice.

Persons: PHIL MCCARTEN, REUTERS Walt, Robert Iger ’, Mark Parker, Mary Barra, Safra Catz, Amy Chang, Jeremy Darroch, Carolyn Everson, Michael Froman, James Gorman, Robert Iger, Maria Elena Lagomasino, Calvin McDonald, Derica Rice Organizations: REUTERS, REUTERS Walt Disney

☆ Lululemon hits back at founder's anti-DEI comments: They 'do not reflect our company views'
▼ + stars: | 2024-01-07 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe athleisure brand Lululemon has distanced itself from its founder and former CEO Chip Wilson's comments about diversity. "Chip Wilson does not speak for Lululemon, and his comments do not reflect our company views or beliefs," a spokesperson said in a statement, per The Business of Fashion. AdvertisementWilson founded Lululemon, which is now headed by Calvin McDonald, in Vancouver in 1998 as a "yoga-inspired" company for women.

Persons: Lululemon, Chip Wilson's, Wilson, Elon Musk, Bill Ackman, —, You've, Chip Wilson, Chip, Jim Bennett, Getty Wilson, Calvin McDonald Organizations: Forbes, Service, Luluemon, Lululemon, Harvard University Locations: Vancouver, American

☆ Lululemon shares fall as retailer gives tepid holiday outlook despite strong start to shopping season
▼ + stars: | 2023-12-07 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Lululemon on Thursday said it saw strong third-quarter demand and a positive start to the holiday shopping season, but the retailer's shares fell in extended trading after it gave a tepid fourth-quarter outlook. During the quarter, sales jumped 12% in North America and 49% internationally, but the retailer's holiday guidance came in light of expectations. For the full year, Lululemon expects sales to be between $9.55 billion and $9.58 billion, compared to estimates of between $8.11 billion and $9.90 billion, according to LSEG. He added that Lululemon is "encouraged" by the trends it has seen at the start of the holiday season. During Lululemon's third quarter, total comparable sales were up 13%, higher than the 12.4% jump analysts had expected, according to StreetAccount.

Persons: Lululemon, We're, Meghan Frank, Calvin McDonald, McDonald Organizations: LSEG, CNBC PRO Locations: North America

☆ 'Dupes' clothing, perfume craze lures holiday shoppers as major brands fret
▼ + stars: | 2023-11-20 | by ( Katherine Masters | ) www.reuters.com time to read: +7 min

Hashtag searches for dupes of major brands - including Skims underwear and Deckers' (DECK.N) Ugg boots - have been viewed millions of times on TikTok. Graphic shows pictures of four original products and their original prices under named brands compared with the prices of their 'dupe' counterparts. Newer technologies like the Google Lens app allow people to take photos of items they like and find similar products for sale. In other cases, dupe sellers opt to replicate the look of higher-priced originals with cheaper materials to maximize profit. However, experts say dupe sellers have grown increasingly skilled at avoiding brand logos and other design features that could infringe existing patents or copyrights.

Persons: Lauren Maginness, Shannon Stapleton, Maginness, Estee, Tom Ford, Dupes, “, ”, Penny Pincher, Leslie Ghize, Doneger Tobe, Calvin McDonald, Ian Taplin, Juozas Kaziukenas, Kaziukenas, Maria Boschetti, Mike Scheschuk, Birkenstock, Katherine Masters, Dorothy Kam, Vanessa O'Connell, Rod Nickel, Matthew Lewis Organizations: REUTERS, Abercrombie, Fitch, Scout, Walmart, Department, Nordstrom, Circana Inc, COMMERCE, Wake Forest University, eBay, Google, HK, Amazon, New, Thomson Locations: New York City, U.S, Hong Kong, TikTok, Los Angeles, Zara, Italy, New York

☆ Lululemon CEO Calvin McDonald: We didn't have to discount items to bring down inventory
▼ + stars: | 2023-09-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLululemon CEO Calvin McDonald: We didn't have to discount items to bring down inventoryLululemon CEO Calvin McDonald sits down with CNBC's Morgan Brennan to talk the growth of the company, new product, consumer behavior and much more.

Persons: Calvin McDonald, CNBC's Morgan Brennan

☆ In Lululemon and Dollar General earnings, signs of a possible economic split
▼ + stars: | 2023-09-02 | by ( Samantha Delouya | ) edition.cnn.com time to read: +4 min

One reported strong sales on Thursday, while the other warned it may experience a sales decline for the year. Dollar General’s earnings report on Thursday painted a different picture. “Core customers continue to tell us they feel financially constrained,” said Dollar General’s CEO, Jeff Owen, on the company’s earnings call. Brian Nagel, a retail analyst at Oppenheimer & Co. who covers Lululemon, said he sees still strong spending across all retailers he covers. “Generally speaking, consumer spending has held in,” he said.

Persons: CNN —, ”, Calvin McDonald, Lululemon, Jeff Owen, Neil Saunders, Brian Nagel, Nagel, ” Nagel, Richard Dreiling, John Rainey, ” Rainey, Shannon Seery Organizations: CNN, Oppenheimer, Co, Federal Reserve, Fed Locations: Wells, United States, —

☆ Back-to-school US spending set to hit record high in 2023
▼ + stars: | 2023-09-01 | by ( Kailyn Rhone | ) www.reuters.com time to read: +4 min

The National Retail Federation, a retail trade group, predicts spending will surpass $135 billion, an increase of more than $24 billion from last year. “The larger the school, the more they are needed,” said Leslie Sparacello, a school superintendent in Austin, Texas, whose former school required clear backpacks. Clear backpacks available on Amazon.com's (AMZN.O) marketplace are priced starting at $9.97, according to its website. A spokesperson said Walmart has recorded an increase in demand for clear backpacks in the last two back-to-school seasons, specifically in Texas, Florida and Mississipi. The company has a separate section for clear backpacks under its backpack category starting at $4.89.

Persons: Mike Blake, jean, ”, Chip West, Melissa Cohen, Polo Ralph Lauren, Nikki Mcneri, Mcneri, Leslie Sparacello, Calvin McDonald, West, Matthew Bilunas, Josie Kao Organizations: REUTERS, National Retail Federation, MBC Consulting, Walmart, Kailyn Rhone, Thomson Locations: Encinitas , California, U.S, Georgia, jorts, Austin , Texas, Canada, Texas , Florida

In the second quarter ended July 30, Lululemon's North America sales rose 11% as its affluent customer base picked up more of its workout gear and crossbody bags. Sales in China, which accounted for roughly 12% of overall revenue, increased 61% thanks to resilient demand following the easing of pandemic curbs. Lululemon said inventories increased 14% in the second quarter, below the roughly 20% growth forecast in June. The company's gross margins increased 230 basis points to 58.8% in the second quarter. It expects annual profit between $12.02 and $12.17 per share.

Persons: Andrew Kelly, Lululemon, Calvin McDonald, Rachel Wolff, Granth, Maju Samuel Organizations: REUTERS, North, Lululemon's, Nike, Thomson Locations: Manhattan , New York, U.S, Lululemon's North America, United States, China, Bengaluru

☆ A grocery store security guard filmed three men stealing $500 worth of detergent. He's yet another worker who got fired after confronting shoplifters.
▼ + stars: | 2023-07-06 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

A Colorado man says he was fired from King Soopers grocery store after filming a shoplifting incident. As it happens, King Soopers' parent company, Kroger, has a policy against engaging or interfering with shoplifters. Burrola told the Denver CBS affiliate he was suspended when he arrived for his next shift and fired the following week. A spokesperson for King Soopers did not respond to Insider's request for comment on this story. "I hope this changes the policy," Burrola told CBS regarding Kroger's stance, "and gives power back to retail workers like myself."

Persons: King, —, Santino Burrola, Burrola, Snoop Dogg, King Soopers, Soopers, Jorge Pantoja, Bugsy, Pantoja, Robert, Calvin McDonald, Burrola's, who's, Dominick Reuter Organizations: Kroger, Service, Samsung Galaxy, Chevrolet Trax, Father's, Denver CBS, Arapahoe County Sheriff, CNBC, CBS Locations: Colorado, Denver, Arapahoe County, Georgia, Florida

☆ Lululemon stands by decision to fire employees who intervened in robbery
▼ + stars: | 2023-06-06 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +4 min

“It’s only merchandise.”McDonald said the employees “knowingly broke the policy” and engaged with the thieves, including following them out of the store. As economic fears grow amid inflation and rising borrowing costs, incidents of retail crime are mounting. Target (TGT) last month said it was bracing to lose half a billion dollars this year because of rising theft. “This is organized retail crime. “We’ve had instances, and we’ve seen in other retailers instances where employees step in and are hurt or worse, killed,” he told CNBC.

Persons: New York CNN — Lululemon’s, LULU, Calvin McDonald, “, ”, ” McDonald, Lululemon, Read Hayes, criminologist, they’ve, ” Lululemon, Nordstrom, Hayes, McDonald, “ We’ve, we’ve Organizations: New, New York CNN, “, CNBC, University of Florida, Prevention Research Council, Walmart, Target, “ Retailers, CNN, Employees, Dollar, Foods, Walgreens, National Retail Federation Locations: New York, Peachtree Corners , Georgia, Peachtree, Georgia, harm’s, San Francisco, Bethesda , Maryland

☆ Why Lululemon will fire employees if they try to stop thieves
▼ + stars: | 2023-06-02 | by ( Cadie Thompson | ) www.businessinsider.com time to read: +3 min

Lululemon has a zero-tolerance policy for employees engaging with thieves. Two former Lululemon employees said they were fired after calling police to report a robbery. Recently, two former Lululemon employees in Peachtree Corners, Georgia said they were fired from the retailer after calling the police to report a robbery. He also said that Lululemon employees are allowed to call the police. Like Lululemon, many retailers prohibit employees from engaging with thieves in order to keep the workers safe.

Persons: Lululemon, Calvin McDonald, —, McDonald Organizations: CNBC, Service, Employees, NBC News, National Retail Federation Locations: Peachtree Corners, Georgia

☆ Watch CNBC's full interview with Lululemon CEO Calvin McDonald on Q1 earnings beat
▼ + stars: | 2023-06-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Lululemon CEO Calvin McDonald on Q1 earnings beatLululemon CEO Calvin McDonald joins ‘Squawk on the Street’ to discuss the company’s latest earnings that beat Wall Street’s estimates on the top and bottom lines and more.

Persons: Calvin McDonald, ‘ Squawk

☆ Lululemon CEO Calvin McDonald on Q1 earnings beat
▼ + stars: | 2023-06-02 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLululemon CEO Calvin McDonald on Q1 earnings beatLululemon CEO Calvin McDonald joins ‘Squawk on the Street’ to discuss the company’s latest earnings that beat Wall Street’s estimates on the top and bottom lines.

Persons: Calvin McDonald, ‘ Squawk

The athleisure retailer said its net revenue rose by 24% to $2 billion between the first quarter of 2022 and the first quarter of 2023. The company performed particularly well with its international customers: sales rose 60% year-over-year outside of North America. Shares of Lululemon rose 13% in after-hours trading. The retailer raised its expectations for net revenue in 2023 to between $9.4 billion and $9.5 billion, representing 17% sales growth. Meanwhile, Home Depot reported steep sales and revenue declines after three years of robust growth

Persons: Lululemon, Calvin McDonald, Fitch Organizations: CNN, Abercrombie, Home Depot Locations: China, North America

☆ Lululemon has approached Hydrow about a possible sale of Mirror
▼ + stars: | 2023-04-18 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +3 min

Lululemon is looking to sell its at-home fitness business Mirror and has approached competitor Hydrow as a potential buyer, CNBC has learned. A Lululemon company spokesperson said they "don't comment on rumors or speculation." Lululemon announced it would acquire Mirror for $500 million at the height of the at-home fitness bonanza in June 2020. The segment has since rebranded as lululemon Studio but has been weighing on the fitness apparel company's balance sheet. "We view lululemon Studio in the same way we view any innovation.

☆ Lululemon CEO Calvin McDonald: We don't have an inventory issue
▼ + stars: | 2023-03-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLululemon CEO Calvin McDonald: We don't have an inventory issueLululemon CEO Calvin McDonald joins 'Squawk Box' to discuss the company's quarterly earnings results, the company's success within the health and wellbeing space, and more.

☆ Lululemon is everywhere and that's a problem
▼ + stars: | 2023-01-09 | by ( Danni Santana | ) www.businessinsider.com time to read: +4 min

At the ICR conference, Lululemon said it now expects gross margin to be down 90-110 basis points. At the ICR conference Monday, Lululemon said it now expects gross margin to be down 90-110 basis points, compared to small gains expected late last year. Lululemon does not break out Mirror sales in quarterly earnings. Adidas, as an example, expects gross margin to be down 900 basis points following its split from Ye, he wrote in a note Monday. "Inventory growth has likely peaked, which should alleviate gross margin pressure in FY23," he said.

☆ With remote and hybrid work here to stay for some companies, fashion brands are still adapting to the evolving wardrobe of modern professionals
▼ + stars: | 2022-12-24 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Remote workers are "blending it all together," in their wardrobes, Fortune reported. In recent years, athleisure brand Lululemon has spiked in popularity as more people seek comfort in their daily attire. "Gone are the days of two separate wardrobes or even three separate wardrobes," Maria Rugolo, director and industry analyst of fashion apparel at NPD, told Fortune. The change in work attire is evident in the TikTok trend of users showing their remote workwear. Such outfit choices have caused athleisure brands, like Lululemon, to explode in popularity.

☆ Lululemon CEO Calvin McDonald: We are well-positioned for the holiday season
▼ + stars: | 2022-12-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLululemon CEO Calvin McDonald: We are well-positioned for the holiday seasonLululemon CEO Calvin McDonald joins CNBC's 'Squawk on the Street' to discuss the company's weaker-than-expected outlook, its global growth strategy, and more.

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