Lululemon Shares Fall on Steep Sales Drop

Lululemon shares dipped on Friday right after the athletic have on retailer noted that quarterly income fell seventeen% in spite of a surge in on the net business enterprise.

According to Barron’s, investors’ hopes had been large heading into the to start with-quarter earnings report, with “plenty of analysts … touting the company’s potential to gain from the [coronavirus] pandemic, as people target on health and wellness (and indulge in putting on yoga pants while doing work remotely).”

“Although at the very least 1 analyst upbeat about the inventory warned income could arrive in light, some have reported it will be a long-phrase retail winner, and could quickly be a $50 billion enterprise,” Barron’s pointed out.

But Lululemon’s to start with-quarter income declined to $651.nine million from $782.3 million, reflecting losses from its stores remaining quickly shut due to the pandemic, even even though e-commerce income surged 68% to $352

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