Lululemon slashed its full-year sales and earnings forecasts, citing negative media commentary and underperforming product launches. Shares dropped as the company faces ongoing challenges in the Americas.
Lululemon slashed its full-year financial outlook, citing undisclosed "headwinds." Shares dropped nearly 10% as the company faces declining sales in the Americas and challenges from tariffs and discounting.
Lululemon slashed its full-year sales and earnings guidance, citing undisclosed "headwinds." The company's shares fell over 7% in extended trading. Despite beating Q1 expectations, the outlook for the current quarter and full year remains weak, with concerns about product innovation and brand reputation.
Lululemon resolves proxy contest with founder Chip Wilson, agreeing to appoint two of his nominees and a third director in exchange for Wilson's commitment to refrain from criticizing the company for 1.5 years.
Reports suggest Shein plans to acquire Everlane, a sustainable fashion brand, sparking dismay among advocates. This follows similar trends of brands dropping eco-goals, raising questions about corporate commitment to sustainability versus profit.
Lululemon is publicly confronting activist founder Chip Wilson, calling his perspectives "outdated" and citing "troubling conflicts of interest" in a letter to shareholders. The company urges shareholders to vote for its nominees at the upcoming annual meeting, warning Wilson's nominees would derail its turnaround plan.
Lululemon announced on Wednesday that it has chosen former Nike executive Heidi O'Neill as its new CEO, effective in September.
