Lululemon Misses Revenue Target for First Time in Two Years Amid Botched Launch. CEO Defends Brand's Strength
Lululemon missed its revenue target for the first time in over two years, lowering its full-year guidance. The revenue shortfall was partly due to a botched product launch and slower growth in the Americas. Lululemon's profits exceeded expectations, with earnings per share at $3.15, beating estimates. The athletic apparel company is focusing on improving operations and efficiency, especially as it sees strong international growth. CEO Calvin McDonald stated that the slowdown in Lululemon's U.S. women's business is primarily due to a lack of new styles but emphasized that the brand remains strong in the U.S. market.
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00:00It's Benzinga, and here's what's on the block.
00:02Lululemon missed its revenue target for the first time in over two years, lowering its
00:06full-year guidance.
00:08The revenue shortfall was partly due to a botched product launch and slower growth in
00:12the Americas.
00:13Lululemon's profits exceeded expectations, with earnings per share at $3.15, beating
00:18estimates.
00:19The athletic apparel company is focusing on improving operations and efficiency, especially
00:23as it sees strong international growth.
00:26CEO Calvin McDonald stated that the slowdown in Lululemon's U.S. women's business is
00:30primarily due to a lack of new styles, but emphasized that the brand remains strong in
00:34the U.S. market.
00:35For all things money, visit Benzinga.com.