Lululemon Athletica Inc. announced late Monday that its first quarter earnings will be significantly impacted after large shipments of its iconic yoga pants were deemed to be too see-through for the store’s standards.
“The ingredients, weight and longevity qualities of the pants remain the same but the coverage does not, resulting in a level of sheerness in some of our women’s black Luon bottoms that falls short of our very high standards,” the company said in a news release.
Revenue for the quarter is now expected to be $10-million to $20-million below its previous forecast of $353-million. Shares of the Vancouver-based company were down more than 7% in after hours trading on the NASDAQ stock market.
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