Consumer
Lululemon's $98 Yoga Pants Face Baggier Fashions, More Rivals
- Company’s second-quarter results missed Wall Street estimates
- Analysts says a guidance cut was ‘baked into’ Lululemon stock
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Lululemon Athletica Inc. lowered its sales and profit outlook for the year as increased competition and relentless inflation curb demand for its pricey yoga pants.
The company now sees sales of as much as $10.48 billion this year, down from the previous view of as much as $10.8 billion, offered in early June. Chief Financial Officer Meghan Frank said the cut was due to “uncertainties” in the economy, including a shorter holiday season and the upcoming US elections.