Connect with us

News

Lululemon Stocks Decreased by 3%

Published

on

Lululemon Athletica’s stock decreased by 3% this Wednesday after the company reported that it had seen growth in sales but low on the expectations from Wall Street.

In the past, Lululemon proved to be the best athletic apparel for the year. The price share even increased by 90% and was doing way better than the giant competitors such as Nike, Adidas, and Under Armour.

Lululemon is a Canadian Athleisure apparel which has been focusing on the international market, increasing their products to men’s wear and self-care products. They also gave their loyal clients a subscription-based loyalty program. They have been doing really since 2018. It was founded in 1998 and patented “Luon” a specific type of material which gives its yoga pants soft feel. Now they have expanded to more than yoga pants.

Lululemon’s current reported that they have financial results that were better than they expected. For the 3rd quarter, the company posted 96 cents in earnings per share as compared to the earlier quarters, which was only 71 cents. But analysts from Wall Street forecasted 93 cents.

According to CEO Calvin McDonald, “We’re proud of the continued momentum in our business. We are successfully executing on our Power of Three growth plan as we create authentic connections with new and existing guests around the world.” The net revenue was $916.1 million against the expectation of $897 million from Wall Street. They reported that sales increased by 17% on a constant dollar basis while there was an increase of 11% for in-store purchases and a 30% increase for direct-to-consumer. Furthermore, the company bought an average cost of $179.71 per share for 44,500 shares.

Moving ahead, the company is expecting a $1.315 – $1.330 billion and diluted earnings of $2.10 to $2.13. With the raised guidance, though, it should expect a $4.75 to $4.78 and revenue of $3.895 to $3.91 billion.
The CEO further exclaimed that the men’s apparel grew 38% in its third quarter, preferably on outerwear, pants, and underwear. This big company should double men’s clothing by 2023.

They have been seeking to expand and persuading male shoppers that the pants are worth its price. As of the moment, its most expensive pants cost $200.

One new customer, a male middle school teacher, found his dress pants but also could be sweatpants are now found in Lululemon, so he bought a pair. This kind of man is what the company is eyeing on. It might be expensive for a $100+ pair of pants, but he said they’re worth the tag price. He would buy more of them, but those would be the only apparel he might get from Lululemon.

McDonald said that the company is still in its early stages of growth, and there is still a need for an increase of awareness in the brand. Many even don’t know about their brand. They want to expand more in North America, Europe, and China. Aside from that, they would also go beyond women’s athleisure. Many competitors have been flooding the market with a cheaper version of these apparels.

Read More: Matrix 4 and John Wick 4 To Be Released on the Same Day

Dan is a software developer with experience in designing, development, and delivery of Android apps. His key skills include knowledge of Core Java, JSON & XML Parsing. He's also a keyboardist. So, either you’ll find him at her desk busy in building mobile apps or at a composing music in his home studio. He contributes his ideas on tech at PressReels as an author. You can contact him at Danreels@gmail.com

Breaking News

Death after unmasked arrest – Mexico Floyd

The official reason for the arrest revealed by the police is not known, but the video footage posted on social media at the time of the arrest suggests that the reason is “not wearing a mask.”

Published

on

Amid a stir across the U.S. over the “George Floyd” incident that killed white police abuses, similar cases of abuse of public power have been revealed in Mexico, sparking public outrage.

The daily El Universal has been protesting against the incident since it was belatedly revealed that construction worker Giovanni Lopez died the next day after being arrested by police in Guadalajara, western Mexico, on April 4.

The official reason for the arrest revealed by the police is not known, but the video footage posted on social media at the time of the arrest suggests that the reason is “not wearing a mask.”

Death of George Floyd

On May 25, 2020, George Floyd, a 46-year-old black man, died in Minneapolis, Minnesota, after Derek Chauvin, a white police officer, knelt on Floyd’s neck for almost nine minutes while Floyd was handcuffed face down in the street

Continue Reading

Breaking News

Nobel Prize Honjo, a professor at Kyoto University – 22.6 billion yen in legal battles

Professor Honjo plans to file a lawsuit against Ono Pharmaceutical Industry to increase the distribution ratio of patent fees in 2006.

Published

on

Dasuku Honjo, a professor at Kyoto University who won the 2018 Nobel Prize in Physiology and Medicine, will fight a 250 billion won legal battle with a Japanese pharmaceutical company that makes and sells cancer treatments that reflect his research results.

Professor Honjo plans to file a lawsuit against Ono Pharmaceutical Industry to increase the distribution ratio of patent fees in 2006.

Ono Pharmaceutical Industry Co., which reportedly proposed a donation of up to 30 billion yen to Kyoto University as a compromise last year, responded to Professor Honjo’s press conference by saying, “We cannot comment because we do not understand the contents,” Kyodo News reported.

Continue Reading

TREND

Billboard HOT 10

RESSREELS provides that chart based on official data on the Billboard chart (Source: Billboard HOT 100)

1
Rockstar
DaBaby Featuring Roddy Ricch
+1
2 Last | 1 Peak | 10 Weeks
2
Savage
Megan Thee Stallion Featuring Beyonce
+2
4 Last | 1 Peak | 15 Weeks
3
Blinding Lights
The Weeknd
+2
5 Last | 1 Peak | 30 Weeks
4
Roses
SAINt JHN
+4
8 Last | 4 Peak | 14 Weeks
5
Intentions
Justin Bieber Featuring Quavo
+2
7 Last | 5 Peak | 20 Weeks
6
Say So
Doja Cat Featuring Nicki Minaj
-
6 Last | 1 Peak | 25 Weeks
7
The Bigger Picture
Lil Baby
-4
3 Last | 3 Peak | 2 Weeks
8
Whats Poppin
Jack Harlow
+10
18 Last | 8 Peak | 20 Weeks
9
Blueberry Faygo
Lil Mosey
+2
11 Last | 9 Peak | 20 Weeks
10
Circles
Post Malone
+3
13 Last | 1 Peak | 43 Weeks

Billboard Artist 10

RESSREELS provides that chart based on official data on the Billboard chart (Source: Billboard Artist 100)

1
ReEnter
Bob Dylan
-
0 Last | 1 Peak | 10 Weeks
2
Lil Baby
-1
1 Last | 1 Peak | 111 Weeks
3
Post Malone
-
3 Last | 1 Peak | 209 Weeks
4
BTS
-2
2 Last | 1 Peak | 194 Weeks
5
Luke Combs
+2
7 Last | 1 Peak | 173 Weeks
6
Harry Styles
+2
8 Last | 1 Peak | 52 Weeks
7
DaBaby
+2
9 Last | 1 Peak | 63 Weeks
8
The Weeknd
-4
4 Last | 1 Peak | 259 Weeks
9
Roddy Ricch
+2
11 Last | 2 Peak | 29 Weeks
10
Drake
-
10 Last | 1 Peak | 313 Weeks

Trending