Economy · World
Lululemon Cuts Revenue Forecast Amid Sales Challenges
Lululemon Athletica has again lowered its revenue forecast, citing challenges for its new CEO, Heidi O'Neill. The company's shares dropped significantly, with one report stating a 20% fall, after it announced a reduced full-year sales outlook. The sportswear maker experienced a notable decline in sales from its signature leggings business. Competitors such as Alo and Vuori are reportedly gaining market share in the athleisure sector, presenting further challenges for Lululemon in regaining customer spending.
How outlets across the spectrum covered it
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- Centre (5): CNBC, Forbes, The Economic Times, The Globe and Mail, The Wall Street Journal