Lululemon news and archive

More job cuts at Lululemon as it closes U.S. distribution center

Canadian Athleisurewear giant Lululemon is set to close its distribution center in Washington, leading to the layoffs of 128 employees, according to a filing in the local state. Shares in the company have fallen over 31 percent since the start of 2024. The job cuts are expected to commence on June 21, with plans to shut down the facility by the...

Fashion |In Pictures

Lululemon unveils Team Canada’s Olympics uniform

Vancouver-based activewear brand Lululemon has unveiled Team Canada’s summer athlete kit for the Paris 2024 Olympic and Paralympic Games. This marks the second time the Canadian brand has dressed its home country's Olympic and Paralympic teams but the first time it is creating athlete kits for warm weather. Calvin McDonald, chief executive at...

Business

Lululemon suffers share price slide despite strong annual results

Canadian sportswear provider Lululemon Athletica Inc. exceeded market expectations in the 2023/24 financial year. However, the outlook for the current year, which the company presented on Thursday evening together with the latest results, was rather cautious. As a result, the share price temporarily slipped by around 12 percent. Thanks to a...

People

Lululemon appoints former Gap CFO to board

Athleisure retailer Lululemon has announced the appointment of Teri List to its board of directors. List counts a number of notable fashion and sportswear retailers among her past experience, including Gap Inc. and Dick’s Sporting Goods, where she served as executive vice president and chief financial officer. Prior to this, List had further...

Retail

Lululemon to relocate and upsize in Covent Garden

Canadian athletic apparel brand Lululemon has announced it is relocating its Covent Garden store to a new, larger retail unit within The Yards development. Set to open in summer 2024, Lululemon has secured a prominent 8,364 square foot corner unit on Long Acre, which will mark a 130 percent upsize from its current store. The store will house the...

BusinessFeatured

Environmental advocacy organisation files complaint against Lululemon

Canadian sportswear retailer Lululemon can't seem to leave controversy behind - after company founder stirred it with his diversity remarks at the beginning of the year, allegations concerning an ‘unwelcoming company culture’ lingered a few months ago. There was also a law suit by Nike a year ago, and not to forget the debacle with transparent...

Fashion

Lululemon expands into men’s footwear

Lululemon is set to expand its offering to now include men’s footwear through the launch of a new line of casual sneakers and running models for the spring/summer season. Available in both men’s and women’s styles, the casual sneakers, ‘cityverse’, will drop February 13, while the running shoes, dubbed ‘beyondfeel’ and ‘beyondfeel trail’, will...

People

Lululemon names Jonathan Cheung global creative director

Athleisurewear specialist Lululemon has announced the appointment of Jonathan Cheung as its newest global creative director, a role that will see him lead the company’s global design team while reporting to chief product officer, Sun Choe. In the position, Cheung has been tasked with shaping the brand’s global creative strategy, while also...

Business

After strong Christmas business, Lululemon raises forecasts

Canadian sportswear provider Lululemon Athletica Inc. raised its sales and earnings targets on Monday, for the final quarter of the 2023/24 financial year. "We are pleased with our results in the festive season," said chief financial officer (CFO) Meghan Frank ahead of a conference with analysts and investors. "Our sales trend across all sales...

People

Lululemon founder Chip Wilson stirs controversy over diversity remarks

Lululemon Athletica Inc. (LULU) founder Chip Wilson's remark over the brand's diversity approach has created a controversy. In a recent Forbes interview, Wilson stated, "Lululemon is trying to be everything to everybody. But you've got to be clear that you don't want certain customers coming in." The athletic clothing company, founded by Wilson...

BusinessFeatured

Lululemon posts Q3 revenue growth of 19 percent

Lululemon Athletica reported a third quarter revenue increase of 19 percent to 2.2 billion dollars with net revenue increase of 12 percent in North America and 49 percent internationally. Comparable sales for the quarter increased 13 percent or 14 percent on a constant dollar basis and comparable store sales increased 9 percent. Commenting on...

Business

Lululemon and Peloton establish multi-year deal

Lululemon has announced a new five-year strategic global partnership with American exercise and equipment company Peloton, which will become the exclusive digital fitness content provider for the athleisure brand. Across the duo’s markets, namely in the US, Canada, the UK, Germany and Australia, the companies are looking to expand brand...