Latest news with #Lululemon
Fashion United
an hour ago
- Business
- Fashion United
Lululemon to cut 150 corporate jobs, price increases expected
Canadian athleisure brand Lululemon Athletica has said it is planning to cut around 150 corporate jobs as it looks to change its organisational structure. Employees within store support centres are to be impacted, the company confirmed to Canadian press in a statement. 'As we continue to deliver on our strategy, we regularly assess our business operations to ensure we are well-positioned for the future,' a Lululemon spokesperson told CBC News. 'Following a recent review, we have decided to evolve some aspects of our organisational structure to operate with more agility and further invest in growth.' Lululemon had already made a series of layoffs in 2024 when it closed its US distribution centre. This had followed similar job cuts in 2023, upon the discontinuation of its tech-forward fitness product, Mirror. Alongside job cuts, the brand is further preparing to strategically increase prices to mitigate impact from US tariffs, which have particularly taken aim at Asian countries like China, a key market for Lululemon. The company announced such plans in its first quarter financial results, in which it noted that any increases to product prices would be modest and will only apply to a select number of items. For the first quarter, Lululemon reported a 7 percent uptick in revenue to 2.37 billion dollars due to the opening of new stores. Despite solid revenue growth, however, the Vancouver-based brand lowered its profit forecast for the current year in view of available figures and current market conditions.
Buzz Feed
11 hours ago
- Buzz Feed
27 Stylish But Practical Pieces To Bring On Every Trip
A square-neck jumpsuit with built-in shapewear that eliminates the need for undergarments. Don't worry — it's nice and thick! An athletic skort with built-in pocket shorts that one reviewer says eliminates the need for a bag! Phone, hotel keycard, ID, Rhode peptide lip tint... yup, your essentials are covered. A two-piece tank top and shorts set so you don't have to put any thought into putting a matching outfit together — the work has been done for you! A pair of high-waisted palazzo pants you'll be tempted to wear every. single. day. of your trip as they're just that freaking comfy. Reviewers also say they're super breathable and surprisingly wrinkle-resistant. A cropped quarter-zip sweatshirt if you LOVE blasting the AC in your hotel, so you need an extra layer to keep you cozy. A trusty pair of Reebok Club C Doubles — the only shoes I'd save from a burning building if given the opportunity. They're comfy straight out of the box, and they pair with literally every outfit! A trusty jean jacket you can *literally* wear with anything. There was a time when my mom told me to stop using the word literally 'cause I said it every two seconds, but mom, I swear it's justified in this case! A stretchy bodycon pencil dress that'll basically feel like a second skin. Some reviewers say they were considering splurging on the Skims version until they tried this and loved it just as much! An off-the-shoulder jumpsuit with over 36,000 5-star ratings and rave reviews from flight attendants! It's comfortable, inexpensive, and a one-and-done option, so you don't have to spend any time hemming and hawing over an outfit — you get straight to whatever adventure awaits. A pair of 100% European linen pants I have worn to legit every country I've ever been to in the last four years. Full stop. A high-neck cropped tank that reviewers swear by as it offers loads of support ( reviewer with a G cup says they don't even have to wear a bra!), isn't see-through, and its quality is on par with much more expensive options from Athleta and Lululemon. A two-piece lounge set you're certain to feel comfy and pulled together in because getting up at the crack of dawn for a 5 a.m. flight is *not* your forte, but it did save you a pretty penny. A silky satin midi skirt with a silhouette that says "chic" and an elastic waistband that says "I'll give your most comfortable sweats a run for their money." A classic London Fog trench you can throw on over anything and immediately look like you belong in whatever European city you're visiting. A pair of Levi's Ribcage jeans that go where no low-rise jeans have ever gone before — up, up, up past your belly button. Thesus Weekend Boots — the ideal choice for adventure travelers everywhere thanks to their seam-sealed water-resistant upper, anti-slip rubber lug sole, and temperature-control lining. While they're perf for hikes and other demanding activities, the versatile design lends itself just as well to brunch, window shopping, and putzing around town. A seriously *stunning* slip dress you can gussy up or tone down. Wear it with heels and you've got yourself an evening dress, or pair it with a leather jacket and ankle boots for an impossibly cool city slicker look. Croc platforms that *may* just be cute enough to convert the Never Croc-er™ amongst us. They're ultra-comfortable, waterproof, and can take a serious beating, too, if you need to shove them in the exterior water bottle pouch of your backpack because you bought more souvenirs than anticipated. A ruched bodycon dress with a simple silhouette made more exciting by adjustable ties. Slip on some color-coordinated sandals or chunky sneakers and you're all done, bb! Some trusty Birkenstock Arizona sandals — mine have been around the world with me and I guarantee yours will quickly become your go-to plus one!! A double-lined square-neck bodysuit that's an absolute wardrobe win as reviewers describe it with words and phrases like "butter soft," "versatile," "super comfortable," and — simple and straight to the point — "OBSESSED." A pair of handmade huaraches with all the airflow of a sandal, but also the benefit of a closed-toe design if you have any vacation activities in mind that are more intense than suntanning on the beach. (Zip lining, anyone?) An off-the-shoulder top that's such a hit with reviewers, many have bought it in multiple colors. One thing people really seem to love is that it's lined — so you don't have to worry about it being see-through in any of your IG shots. A two-pack of tank tops because they match literally everything. Idk about you, but as a carry-on-only traveler who rewears clothes, that's essential! The asymmetrical design makes them a little more interesting than a plain tee, they don't wrinkle, and they take up next to no space in your bag, which is a win-win-win. Handmade leather sandals that offer a barefoot feel. 🦶 While they're available in standard sizes, there's also an option to get them custom-made if you have particularly narrow or wide feet! A long-sleeve off-the-shoulder brami — aka a 2-in-1 bra + cami — so you can ditch your usual underwire but still get alllll the support you need. I love a garment that eliminates the need to pack a bra. And a classic crewneck sweater that is just the lightweight layer everyone needs when traveling. And best of all, when people ask about it, you get to say, "It's cashmere!!!" but also, "And it only cost $50!!!"
Yahoo
14 hours ago
- Business
- Yahoo
Beyond Yoga Puts Lululemon and Athleta on Notice With Bigger Store Format
Beyond Yoga is stepping out, cutting the ribbon on a bigger store concept in Greenwich, Conn., on Friday and preparing an assortment that really lives up to its name. It's Beyond Yoga's first brick-and-mortar store on the East Coast and a big moment for the brand, which Levi Strauss & Co. bought in 2021 and which is now being prepped for a growth spurt that would put it into direct competition with Lululemon and Athleta at scale. More from WWD Revenue Rises at Lululemon in Q1, CEO Calvin McDonald Bullish Despite Cautious U.S. Consumer Why TikTok Can't Stop Talking About Lululemon's 2-in-1 Dress and Its Styling Frenzy With Shoes: The $148 Debate, Explained Authentic Brands Group Is Buying Dockers for $311 Million Leading the way is Nancy Green, who oversaw Athleta as it grew from 39 to 175 stores and has been putting that experience to work since becoming Beyond Yoga's chief executive officer last year. Green has been using her own particular blend of art and science to set the brand up for its next step. The arrival in Greenwich, for instance, is no accident. The company knows from its e-commerce business that the greater New York area is its largest market and used that data to guide it to the wealthy enclave. 'There's a big intuitive piece to this too,' Green told WWD. 'There's the data on where the bulk of our customer fans are currently, and then there's intuition. Does that make sense? Does that feel right? Because you can go into a market and there's multiple places you could open. We're opening in Boston [this year] and we can see where that customer bubble is in the Boston area. And there's multiple choices where we could go. We're going to Seaport because we stand there, we watch, we see our customer walking the streets. 'The other piece that's important is, Does the space feel right? That's also intuitive,' she said. 'Maybe it's not the right location or you need to wait for the right location. We're not going to go in just because the data shows us that that's probably where we should be.' Both sides of Green's brain aligned on the Greenwich store, a 2,760-foot-space that also has room to hold events and tap into that 'wellness-forward lifestyle' customer the brand targets. 'It's gorgeous,' Green said. 'Light oak floors, very natural elements and a lot of wood, a lot of very organic shapes, curves. The main reason for the larger format is that the line is expanding quite a bit. We needed a larger space to showcase the breadth of the assortment and to really just show the best expression of the brand. We're also [planning to use] these new spaces as community hubs, whether it's fitness events that we do in the store, community events, whatever is right for that store. We create very strong local partnerships with various studios.' The store comes with a new logo and is at the vanguard of a bigger rollout — both in retail and in terms of Beyond Yoga's assortment, which all includes or ties back to its signature Spacedye fabric. While the 20-year-old business has long had workout-ready gear and dresses, the collection has been growing rapidly lately. Puffer jackets were added last year. In August, the assortment reaches out more with wide-leg bottoms, vegan leather, sweaters, cashmere wool blends, varsity-inspired prep looks, styles for the trail and more. Beyond Yoga is done tiptoeing and is going even further beyond yoga with more looks that work from the studio to work to the street to the airport and everywhere else. 'First and foremost, we are a lifestyle brand that serves an active woman and man's lifestyle,' Green said. 'So we think about what are the things that they do? What do they need? Well, it starts with the activities that they do.' With the Greenwich opening, Beyond Yoga has eight doors and is expanding to 14 by the end of the year. Earlier this year Green said the brand could have 'at least 200 stores' over time. 'This is our 2.0 in stores,' Green said of the Greenwich location. 'This is a new concept. We are going to test it and we are going to nail it. We have to iterate and tweak some things as we learn and then we nail it and then we scale it. So test, iterate, nail it and scale it.' Best of WWD Macy's Is Closing 66 Stores in 2025 — Here's the List, Live Updates Inside the Demise of Lord & Taylor COVID-19 Spikes Elevate Retail Concerns Sign in to access your portfolio
Yahoo
14 hours ago
- Business
- Yahoo
Lululemon Is Cutting 150 Corporate Jobs
Lululemon Athletica Inc. is changing up part of its organizational structure, resulting in about 150 job cuts at its corporate headquarters. The impacted employees are part of the yoga-inspired apparel firm's store support centers. More from WWD Beyond Yoga Puts Lululemon and Athleta on Notice With Bigger Store Format Revenue Rises at Lululemon in Q1, CEO Calvin McDonald Bullish Despite Cautious U.S. Consumer Why TikTok Can't Stop Talking About Lululemon's 2-in-1 Dress and Its Styling Frenzy With Shoes: The $148 Debate, Explained 'As we continue to deliver on our strategy, we regularly assess our business operations to ensure we are well-positioned for the future. Following a recent review, we have decided to evolve some aspects of our organizational structure to operate with more agility and further invest in our growth,' a Lululemon company spokesperson said, confirming media reports of the layoffs. 'This is not a decision we made lightly, and we are committed to supporting our employees through this transition.' Despite first-quarter revenue gains, investors earlier this month were spooked when Lululemon chief executive officer Calvin McDonald warned that U.S. consumers were being more cautious in their spends. That sent shares of Lululemon down 22 percent to $258 in after-hours trading on June 5. Shares of the apparel firm have fallen further, and Wednesday's close was down 2.8 percent to $228.65. While the company did provide second-quarter guidance — net revenue in the range of $2.54 billion to $2.56 billion — and kept its top-line forecast for the year, Lululemon did cut its earnings per share to a range of $14.58 to $14.78, down from its earlier forecast of $14.95 to $15.15 in March. BMO analyst Simeon Siegel noted that the updated EPS forecast market the 'first' fiscal-year EPS lowering in the first quarter since fiscal-year 2014. 'We continue to see Lululemon as a strong, but overstretched, brand and worry about long-term domestic revenue sizing,' he said. UBS softlines analyst Jay Sole has shares of Lululemon at 'neutral.' 'A pivotal Lululemon question is if the slowdown in its U.S. business over the last 12-plus months has been temporary, driven by one-off factors, or a sign of something more fundamental. Our main takeaway from Lululemon's 1Q report is the likelihood that something more fundamental is at play has increased,' he wrote in a note. Sole also said the U.S. could slow down in the back half of this year due to the impact of tariffs on consumer spending, and he said that there's also risk that Lululemon's 'China sales growth rate decelerates, too.' This year, the company signed British race car driver Lewis Hamilton as brand ambassador, and in April teamed with the Professional Women's Hockey League for an inaugural collaboration that spotlighted fan-favorite Lululemon designs. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
South China Morning Post
a day ago
- Business
- South China Morning Post
Alibaba and JD.com claim record participation in 618 sales event, boosted by subsidies
Advertisement More than 453 brands each surpassed 100 million yuan (US$14 million) in gross merchandise value (GMV) on Alibaba's Taobao and Tmall platforms during the weeks-long event, the company said on Thursday. The roster included global names such as Apple , Nike, Adidas, L'Oreal and Lululemon, alongside Chinese heavyweights like Midea, Haier Xiaomi and Huawei Technologies Alibaba, owner of the Post, said its buyer base grew at a double-digit pace from a year earlier, reaching an all-time high for the 618 shopping festival period. The midyear sales event typically starts in late May and runs through June 18, the date for which it is named. Alibaba's main e-commerce rival and the creator of the 618 event, said on Thursday that its transactional users doubled year on year, with 2.2 billion orders placed during the period across its online and offline channels, including its new food delivery business. Neither company disclosed total GMV for the event, continuing a trend in recent years of withholding headline sales figures, which no longer paint a rosy picture in a maturing market. China's retail sales rose 6.4 per cent in May, the fastest pace since December 2023, according to official data. A advertisement for the 618 shopping festival seen at a shopping mall in Beijing on June 14, 2022. Photo: Reuters Industry consultancy Syntun estimated total 618 sales across major platforms – including Alibaba's Taobao and Tmall, PDD Holdings' Pinduoduo ByteDance 's Douyin, and Kuaishou Technology – reached 855.6 billion yuan, up 15 per cent from 742.8 billion yuan a year earlier.
