lululemon cuts its outlook again as a new CEO takes over
Q2 revenue fell 4% to about $2.4 billion, comparable sales dropped 9%, and Heidi O'Neill started as CEO on September 8.
lululemon reported second-quarter revenue down 4% to about $2.4 billion, with comparable sales down 9%, and lowered full-year guidance to $10.35 billion to $10.5 billion, according to its release and Yahoo Finance. Heidi O'Neill started as CEO on September 8.
Coverage names Alo and Vuori as share winners. That is the brand story. The category leader is shrinking while challengers that built on the same premium-athleisure idea are growing.
A new CEO gets one clean chance to reset expectations. The open question is whether the fix is product, price, or perception, because the numbers say the market is choosing something else.
Kyle Duford, Founder & Editor, BRNDWIRE. More from Kyle →
