"We recognize there is more work to be done ... but we are encouraged by the guest response to our recent new product drops and activations. The apparel retailer plans to shake up its product assortment with fewer logos, a more focused and co-ordinated colour palette and a more edited assortment of small accessories. The goal is to leave the brand with collections that feel fresher and inspire more customers to pay full price."
"Lululemon's revenue was $3.6 billion US, up by about one per cent from its prior fourth quarter. The result for the period ended Feb. 1 amounted to earnings per diluted share of $5.01 US, down from $6.14 US a year before. The company reported net income of about $586.9 million US for the quarter, compared with $748.4 million US a year earlier."
Lululemon Athletica's interim co-chief executive and CFO Meghan Frank announced strategic product changes aimed at revitalizing the brand following criticism from its estranged founder. The retailer plans to reduce logos, implement a more focused color palette, and curate its small accessories assortment to create fresher collections that encourage full-price purchases. These changes address longstanding consumer complaints about limited newness and excessive discounting. Fourth-quarter earnings showed net income of $586.9 million US, down from $748.4 million US year-over-year, with revenue at $3.6 billion US, up one percent. The quarter was the last under departing CEO Calvin McDonald, with no permanent successor yet named.
Read at www.cbc.ca
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