Lululemon Athletica Inc LULU.O trimmed its revenue and earnings forecast for the fiscal year on Thursday, a fresh sign that the once-flying yogawear maker was still struggling to return to strong growth in an increasingly crowded field. "As we move into 2014, we are reflecting on our learnings with humility, and are entirely focused on our future," Chief Executive Laurent Potdevin said in a statement. Lululemon's results come a day after its founder and largest shareholder, Dennis "Chip" Wilson, announced he had voted against the reelection of its new chairman and another director. Analysts on average had expected earnings of $1.89 a share on revenue of $1.8 billion, according to Thomson Reuters I/B/E/S. SUPPLY CHAIN WOES The reputation of Vancouver-based Lululemon, which once inspired a cult like following among its customers, was badly tarnished by an embarrassing recall in March 2013 of yoga pants that were deemed overly transparent.
from Business News Headlines - Yahoo! News http://ift.tt/1l4dgjK
via
IFTTT
No comments:
Post a Comment