Today, WWD, reported that Lululemon Athletica Inc. was suffering from a fourth-quarter slump. The Canadian athletic retailer's earnings are down 25.1%. Now the company is trying to lure cash-strapped consumers by launching an e-commerce site in April and bolstering its wholesale business to yoga studios and gyms.
However, the Vancouver-based Lululemon is holding back on markdowns for the spring season, confident that shoppers are still ready to buy its high-end tank tops and pants.
According to The Globe & Mail, the recession has also forced the fast-growing retailer to scale back its expansion plans, at least in the short term. It plans just six new stores in 2009, compared with 33 last year, most of them opened in the United States where the economy collapsed earlier and more sharply than in Canada.
Sources: WWD & The Globe & MailSee the Top Ten Summer 2016 Trends for Women Over 40