Lululemon Has a 'Newness' Problem It Says It Will Fix
lululemon(LULU) Investopedia·2024-08-31 01:35
Key TakeawaysLululemon on Thursday reported second-quarter financial results that included a 3% drop in U.S. comparable-store sales and 1% growth in U.S. revenue.Executives said the company didn't present shoppers with enough "newness," referring to seasonal updates to its lineup.CEO Calvin McDonald said the company is looking to refresh its lineup "as quickly as possible." Shoppers visited Lululemon's (LULU) stores and website in the second quarter. When they got there, though, they didn’t see enough new s ...