Reported about 1 month ago
Lululemon has reduced its annual sales and profit forecasts due to slowing demand for its products in North America, with consumer spending becoming more selective. Despite a positive earnings report that showed a profit beat, the athleisure brand faces challenges such as slower seasonal apparel innovation and other product issues. The company aims to accelerate new product releases in response to these challenges but has seen its stock drop significantly this year.
Source: YAHOO