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It’s been a rough summer for Lululemon, marred by a failed leggings launch and slumping sales in its women category.
Lululemon CEO Calvin McDonald noted a challenging macroeconomic environment ahead, even for surging activewear brands like the Canadian giant.
Lululemon grew its revenue to $2.2 billion for the quarter but didn't reference any news regarding its struggling connected fitness division.
Lululemon acquired Mirror for $500 million in June 2020 amid the at-home fitness boom, but the deal has proved to be a flop.
Lululemon CEO Calvin McDonald said the employees failed to abide by the company’s zero-tolerance policy for engaging thieves during a robbery.
Lululemon and Xponential Fitness are partnering to bring more digital workouts to Lululemon Studio, the athleisure company's app.
Lululemon reported particularly strong sales growth internationally, including greater China, where the brand is increasing its marketing.
Lululemon has promised to create thousands of jobs in Canada after receiving an important designation from the federal government.
Lululemon is reportedly working with an advisor on a potential sale of Mirror, the athleisure brand's underperforming at-home fitness device.
While Lululemon reported positive 2022 Q4 earnings, it is now looking to pivot away from its original plan for Mirror.
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