News
Lululemon Stocks Decreased by 3%
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.
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NEW K.ID, the No.1 TV channel for all K-Pop entertainment and source (https://cutt.ly/NEWKID), announced its weekly chart for the 3rd week of August.
BLACKPINK retains its #1 spot in the NEW K.ID’s weekly chart for three consecutive weeks as they tie with WINNER’s previous record. BLACKPINK has announced a new single dropping on August 28th which will be a collaboration with American pop star, Selena Gomez. Selena Gomez also recently teased her collaboration with BLACKPINK on her Instagram post captioned, “SELPINK pulling up soon. 8/28”.
Following their release of the single, BLACKPINK will be releasing their first debut album on October 2nd.
PENTAGON, SHINee, GWSN, and N.Flying all retained their spots in TOP5. The 6th place, WINNER, celebrated their 6th year debut anniversary. MINO posted a photo of WINNER on his Instagram, celebrating the time and unforgettable memories that they have spent together for the last 6 years.
Ranked at #9, SF9’s Rowoon has been named as ‘The North Face white label’s F/W’ model and its brand ambassador. With a height over 6’3’’, Rowoon not only has a youthful personality but also has various talents as he can both sing and act in various entertainment fields. The North Face saw that Rowoon’s versatility perfectly matched its brand image and decided to partner with Rowoon.
Coming in at #10, DAY6’s sub-unit, Even of Day, is releasing a new album, ‘The Book of Us: Gluon – Nothing can tear us apart’ on August 31st. All 7 songs in the album are written and produced by the Even of Day members. Young K is expected to play guitar in place of Sungjin and Jae. JYP’s representative commented, “Young K showed his expertise on the bass guitar and will continue to play more instruments.” It was also mentioned that Wonpil’s synthesizer and Dowoon’s electronic drum will be key in this album.
Additionally, in last week’s ‘2020 SORIBADA BEST K-MUSIC AWARDS’, GWSN and LOONA won New Wave New Artist Awards while GFRIEND took the main prize (bonsang) home.
NEW K.ID, the only TV channel that allows viewers to enjoy K-POP Idol-related content programming 24/7 and exclusive episodes curated from 10K+ videos, is available at CH 511 for free on LG Smart TVs and XUMO apps on all Internet-connected devices.
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.”
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
