×
4 263
Fashion Jobs
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, New Street
Permanent · Birmingham
GILLY HICKS STORES
Gilly Hicks - Brand Representative, Arndale
Permanent · Manchester
VF INTERNATIONAL
Credit Controller (Strategic Accounts)
Permanent · NOTTINGHAM
L'OREAL GROUP
Credit Controller Apprentice - Manchester
Permanent · Manchester
DR. MARTENS
Assistant Digital & Social Marketing Manager Apac
Permanent · HONG KONG
HUGO BOSS UK LTD.
Warehouse Operations Manager
Permanent · LONDON
HUGO BOSS UK LTD.
Learning & Development Partner (Corporate)
Permanent · LONDON
HUGO BOSS UK LTD.
Project Coordinator
Permanent · LONDON
GANT
Brand Consultant - Part Time - Gant John Lewis Cribbs
Permanent · PATCHWAY
L'OREAL GROUP
Business Category Manager
Permanent · London
L'OREAL GROUP
Lancôme Deputy Business Manager, 1.0, John Lewis, Oxford Street (Ftc)
Permanent · London
L'OREAL GROUP
Senior Visual Merchandising Manager - l'Oreal Paris - Cpd
Permanent · London
L'OREAL GROUP
Advocacy Brand Manager - Cpd
Permanent · London
L'OREAL GROUP
Warehouse Team Leader - am / pm
Permanent · Manchester
L'OREAL GROUP
Corporate Finance Director (Contract)
Permanent · London
L'OREAL GROUP
Senior Brand Manager – Ldb
Permanent · London
TK MAXX
Loss Prevention Officer (Door Marshall) - Ayr - Full-Time/Permanent
Permanent · Ayr
HOMESENSE
Loss Prevention Officer - Full Time 37.5 Hours - Homesense Watford
Permanent · Grand Londres
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Graduate Manager in Training, Ashford Designer Outlet
Permanent · Ashford
STELLA MCCARTNEY
Junior Art Director
Permanent · LONDON
MULBERRY
Global vm Manager
Permanent · LONDON
SELFRIDGES
Pat Mcgrath Business Manager
Permanent · MANCHESTER
By
Reuters
Published
Jan 13, 2014
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Yogawear retailer Lululemon cuts forecast; shares slump

By
Reuters
Published
Jan 13, 2014

Upscale yogawear retailer Lululemon Athletica Inc cut its quarterly forecast as the company struggles with the lingering effects of an embarrassing recall and controversial comments by its founder, sending its shares down 15 percent.

Lululemon has been under pressure since March after it recalled some of its signature black pants that proved too see-through.

Source: Lululemon

"We were on track to deliver on our sales and earnings guidance through the month of December; since the beginning of January, we have seen traffic and sales trends decelerate meaningfully," Chief Financial Officer John Currie said in a statement.

Vancouver-based Lululemon warned last month that weaker sales would hit the crucial fourth quarter ending Feb. 2.

Several U.S. apparel retailers including American Eagle Outfitters Inc and Zumiez Inc lowered their forecasts last week as reluctant shoppers forced them to offer steep discounts during the holiday shopping season.

Lululemon said it expected net revenue to be between $513 million and $518 million for the quarter, down from $535 million to $540 million it forecast earlier.

The company forecast same-store sales to decline in low-to-mid-single digits on a percentage basis, compared to its earlier forecast of flat sales.

Lululemon said it expected to earn between 71 cents and 73 cents per share. The company had earlier forecast earnings of between 78 cents and 80 cents per share.

Analysts on an average were expecting earnings of 79 cents on revenue of $541.3 million, according to Thomson Reuters I/B/E/S.

Troubles at the company have been compounded by complaints about product quality and comments by outgoing chairman and founder Chip Wilson.

He said in early November that some women's body shapes "just actually don't work" for Lululemon's yoga pants, prompting a backlash from some customers.

The company last month named Laurent Potdevin, former president at retailer TOMS Shoes, as CEO.

Lululemon shares were trading at $51.60 before the bell, after closing at $59.60 on the Nasdaq on Friday. They have fallen about 11 percent since the recall in March.

© Thomson Reuters 2023 All rights reserved.