Friday, June 12, 2020

Lululemon's revenue falls more than expected, sending shares down

Vancouver Sun
Lululemon Athletica Inc. on Thursday reported a bigger-than-expected fall in quarterly revenue as its business was limited to online operations due to store closures during coronavirus-led lockdowns, sending shares down 5 per cent.

Net revenue fell to US$652 million in the first quarter ended May 3 from US$782.3 million a year earlier. Analysts had forecast $688.4 million, according to IBES data from Refinitiv.. . . more