Yogawear chain Lululemon cuts forecasts

A shopper walks out of the Lululemon Canada Goose sale Athletica store in New York, December 16, 2013. REUTERS/Shannon StapletonThe stock dropped as much as 18 percent after the warning, the second such dive in less than two months, as analysts and investors questioned whether demand was cheap canada goose uk faltering in the face of increased competition or whether supply chain and other internal problems were to blame.The canada goose coats Vancouver, Canada Goose Jackets British cheap Canada Goose Columbia based company, which has carved out a lucrative niche selling fashionable high end workout clothes, said same store sales, revenue and Canada Goose Coats On Sale earnings in its fourth quarter, ending February 2, would be lower than it forecast in December because traffic and sales in January slowedLululemon, which was forced to recall some of its signature black stretchy yoga pants canada goose coats on sale last March because they were too sheer, had already warned of a slowdown on December 12.At that time it acknowledged sales had been hurt by negative press about the canada goose uk black friday product recall and by comments by founder Chip Wilson, who said Lululemon products actually don work with some women body shapes.Still, a slowdown in the company once stellar sales growth had started before the recall and canada goose clearance the canada goose store controversy over Wilson remarks.a bad morning for Lululemon shareholders, but I think all signs, every fundamental sign pointed to this type of earnings reduction, said Brian Sozzi, chief executive of Belus Capital Advisors. His store checks showed pricey workout gear from those brands selling well through the holiday season.Poor customer relations are a bigger culprit in Lululemon woes, Credit Suisse analyst Christian Buss said.highly likely that canada goose uk shop the bad PR, not just around product canadian goose jacket quality issues, but increasingly around the company. arrogance in the way that they engage canada goose black friday sale with their customers, is having an impact, Canada Goose online he said.As other retailers launch loyalty programs and customer friendly policies to help spur demand, Lululemon has not followed suit, he said.Customers, for example, must return products for a refund within 14 days, versus 30 days at many retailers.Cowen and Co analyst Faye Landes slashed her target for the stock to $48 from $90 and downgraded the shares to a perform from after the warning.Lululemon shares bottomed at $49 on the Nasdaq on Monday, their lowest level in two years, before edging slightly higher to $49.82.Lulu customers have shifted to more of a replacement than stock up mode, which canada goose clearance sale would mean fewer sales per person, and maybe competition is taking little bites out Canada Goose Online of Lulu business, especially uk canada goose among less hard core customers, Landes wrote in a note to clients, which said supply chain problems could also be to blame.hope to find out the answers, but prefer to do so from the sidelines.Lululemon will make a presentation at the ICR XChange Conference canada goose on Tuesday, but Chief Financial Officer John Currie and Chief Product Officer Tara Poseley may not discuss the warning in detail at the consumer trade show.Potdevin faces a tall task in repairing Lululemon, said Buckingham buy canada goose jacket cheap Research Group analyst John Zolidis, who pointed to under investment in infrastructure, increased competition, and a international growth strategy as reasons for Lululemon difficulties, as well as brand damage from Wilson comments and the company quality problems.enjoyed several years of uk canada goose outlet extremely strong growth as a faddish demand for its product produced record canada goose outlet setting levels of sales productivity and the highest Canada Goose Outlet ever operating margins we seen from a specialty apparel retailer, he wrote in a note to clients.days are now behind the company. Same store sales have rolled over. Operating margins are now correcting closer to canada goose factory sale industry normal levels. The company has never operated in an environment of declining sales demand.Lululemon did not say whether recent bad weather had played a role in its sales drop, but said the company had been on track to meet its sales and earnings guidance through the month of December.the beginning of January, we have seen traffic and sales trends decelerate meaningfully, Currie said in a statement.Sozzi said he does not see Lululemon struggles as part of an Canada Goose Parka industry wide trend because its target customer is relatively canada goose uk outlet wealthy, which he said makes the warning even more troubling.Lululemon said https://www.canadagoose-jackets-online.com it now expects revenue of $513 million to $518 million for the quarter, down from its earlier forecast of $535 million to $540 million.It also forecast same store buy canada goose jacket sales in the low to mid single digits on a percentage basis, compared with its earlier forecast of flat sales.Lululemon said it expected to earn between 71 cents and 73 cents per share in the quarter, down from a December estimate of 78 cents to 80 cents per share.

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