Latest news with #CalvinMcDonald
Yahoo
2 days ago
- Business
- Yahoo
Lululemon Opening in Milan, Adding a Fashion Capital to its International Push
Lululemon Athletica Inc. is throwing its arms open to the world. In the midst of an international growth push, the Vancouver-based active brand has been getting its passport stamped all around the world. Already this year it has teamed up with local players to enter India, open its first store in Denmark, plant two locations in Belgium and break into Turkey. More from WWD Lululemon Is Cutting 150 Corporate Jobs Beyond Yoga Puts Lululemon and Athleta on Notice With Bigger Store Format Revenue Rises at Lululemon in Q1, CEO Calvin McDonald Bullish Despite Cautious U.S. Consumer Now Lululemon is taking on the fashion capital Milan, entering Italy with a new store at Vittorio Emanuele II 24/28 in the shopping district. The 5,700 square-foot door opens Saturday, offering men's and women's on two floors with the brand's 'high-performance, high-style' take on looks for yoga, running, training, tennis, and golf. From the street, shoppers will first see the store's custom 3-D printed Glide sculptural façade, which draws inspiration from the brand's Define Jacket pattern. The façade's 'flowing geometry is designed to expand and move across the storefront, emulating the properties of fabric on an architectural scale,' according to the brand. Sticking to its consumer connection playbook, the brand will look to sync up with the local community through a series of activations, like partnerships with local studios, run clubs or a new ambassador program. The move into Italy is part of the brand's Power of Three x2 growth plan — aimed at quadrupling international revenue from 2021 levels by year-end 2026 Sarah Clark, senior vice president of Europe, the Middle East and Africa at the brand, said the brand is expanding from a strong base. 'Lululemon was built in North America over 25 years ago and so much of our strength and growth as a global brand has been a result of the incredible foundation and learnings from that market,' Clark said. 'As we've approached our international expansion, much like our North American growth, our strategy has been to think globally and act locally and we've always made sure that our culture, recruitment of people and talent, and relationships in the market dictate the pace in which we grow,' she said. 'We never expand quicker at the expense of those elements or for short-term gains.' Each market is managed according to its own needs with a 'seed, scale, and maximize approach,' she said. Lululemon tore through the U.S. market with a growth spurt that made it one of fashion's biggest names, but last year it was working to get its groove back in the key U.S. market. The brand's comparable sales in the Americas fell 1 percent in 2024, although that decline was cushioned by a 25 percent increase in Mainland China and a 19 percent comp boost in the rest of the world. But in the first quarter of this year, comps continued to fall in the Americas, with a 2 percent decline, while Mainland China slowed to 7 percent and the rest of the world comped up by just 6 percent. Chief executive officer Calvin McDonald told analysts on a conference call last month that the brand was still just getting started abroad. 'We're early relative to market share, early relative to unaided brand awareness, continue to see very healthy new guest acquisition and matriculation with our existing guests and the way the guest is responding to both our newness as well as our long lineup of core items,' McDonald said. 'In some of the markets, we had outsized growth last year. But very, very healthy, strong numbers and relative to peer sets and with our market share gains — very excited and see a long runway of growth and opportunity.' The CEO said that the international unit could make up 50 percent of the business over time, up from 25 percent last year. Best of WWD Macy's Is Closing 66 Stores in 2025 — Here's the List, Live Updates Inside the Demise of Lord & Taylor COVID-19 Spikes Elevate Retail Concerns
Forbes
08-07-2025
- Business
- Forbes
Lululemon Bags First European Travel Retail Store At London Heathrow
Lululemon makes its European airport entry at London Heathrow. (Photo by Jakub Porzycki/NurPhoto via ... More Getty Images) Technical athletic-to-athleisure fashion brand Lululemon, with sales topping $10 billion for its last fiscal year (ending in February), has inaugurated its first travel store at a European Airport in London—at Heathrow Airport's Terminal 5, supported by commercial real estate company Newmark. The store opened its doors on Friday giving passengers in T5—which primarily serves British Airways customers—access to the brand's wide range of apparel supporting activities including yoga, running, training, tennis, and golf. Heathrow is Europe's busiest air hub, serving 83.9 million passengers last year, making it a good choice as a first sortie into the European travel channel. Lululemon, which is suing Costco for allegedly selling dupes, is led by CEO Calvin McDonald. He is currently executing a growth plan called 'Power of Three ×2' which sits on the three pillars of product innovation, guest experience, and market expansion. McDonald, who has more than tripled revenue from about $3 billion in 2018, has pushed for global expansion with stores now in 26 countries and plans to enter Italy, India, and others soon. Travel retail has also become one of the markets for further exploration. Simon Black, executive managing director at Newmark UK and EMEA, said on social media: 'The opening of Lulumelon's first European Airport store at Heathrow Terminal 5 is a project that has been over two years in the making. It hasn't been straightforward, and at times it looked like the project wouldn't come to fruition. However, thanks to the hard work and perseverance to find solutions, Heathrow, Lululemon and Newmark got it over the line.' Appeal for long-haul travelers The company's UK and EMEA executive director, Hazel Catterall, a former head womenswear buyer at London upscale department store Harvey Nichols, has led the execution of the brand's Europe, Middle East and Africa (EMEA) travel retail strategy over the two years it has taken to get into Heathrow. In a statement, the airport's retail director, Fraser Brown, said: 'Lululemon has amassed a cult following for good reason, and we are excited to welcome such an iconic activewear brand. It will enable passengers to enjoy their travel experience with added comfort and style.' Heathrow's new Lululemon store in T5. The 1,100-square-foot store has opened in time for summer getaways when demand for fitness-to-fashion crossover items is likely to spike. Despite being space-constrained, Heathrow has been serving record numbers during recent peak periods. CEO, Thomas Woldbye, said: 'Over the past year, we've supported 84 million journeys, and this summer we're ready to welcome even more.' Lululemon's leggings, yoga gear, and travel-friendly layered clothing should appeal, especially to long-haul travelers. Outside Europe, Lululemon operates a limited number of airport stores in global hubs, including Vancouver Airport in Canada, the brand's first North American airport store launched in 2021 in its hometown gateway, and also in Singapore at Terminal 1 of Changi Airport, and T1 at rival Hong Kong International Airport. Lululemon ended its first financial first quarter (ending May) with 770 company-operated stores globally a slight year-over-year increase. The international market is where the best revenue growth came from in Q1, with 19% versus the Americas at just 3%. McDonald, a triathlete and sports enthusiast, also on the board of Walt Disney, commented: 'As we navigate the dynamic macro environment, we intend to leverage our strong financial position and competitive advantages to play offense.' At Heathrow, regular passengers who are members of the Heathrow Rewards loyalty scheme can receive double points when they spend £100 ($135) or more in the new Lululemon shop over the next two weeks. Newmark makes gains for Monsoon and Accessorize Newmark UK and EMEA has also secured new and expanded stores for bohemian-inspired fashion brand Monsoon and affordable accessories retailer Accessorize across both High Street and travel retail locations, covering some 9,000 square feet. Accessorize's new and/or expanded stores include Canada Square in Canary Wharf, a commercial hub in London, and The Beacon in Eastbourne on the English coast, both opened in May. Chantry Place in Norwich in East Anglia will be opening soon and an upsized unit in the Trafford Centre, Manchester will relaunch before the end of the year. In travel retail, Accessorize refitted and upsized stores in Birmingham and Glasgow airports while Monsoon opened two new locations at London Gatwick Airport in February, marking a first step for the brand as it expands into travel retail. Newmark director Sharon Daley said: 'Travel retail presents a unique set of opportunities—where visibility, speed, and competitive positioning are paramount. We're proud to support Monsoon and Accessorize in securing strategic locations in some of the UK's busiest airports, including a significant step for the Monsoon brand in travel retail.' Accessorize operates over 350 stores globally, which includes 130 in the UK. The brand plans to open 10-20 further units annually over the next three years across High Streets and shopping centers. Accessorize currently operates 17 travel locations and Monsoon has added two, both secured through competitive tenders.
Yahoo
27-06-2025
- Business
- Yahoo
lululemon athletica inc. (LULU) Isn't Doing Great Right Now, Says Jim Cramer
lululemon athletica inc. (NASDAQ:LULU) is one of the . lululemon athletica inc. (NASDAQ:LULU) is a Canadian fitness apparel company whose shares have been caught in the midst of a broader weakness in the retail market. The shares are down by 37% year-to-date on the back of a particularly vicious 19.8% dip in June. lululemon athletica inc. (NASDAQ:LULU)'s shares sank after management revealed that it might have to increase prices and absorb the impacts of tariffs on its income statement. In his earlier remarks about lululemon athletica inc. (NASDAQ:LULU), Cramer has wondered whether he misjudged the firm's competition. This time around he mentioned the stock as an afterthought in the sectors that aren't doing well right now: 'Remember, it's certain, I'm saying, housing, that's not great. Housing, auto, and Lulu.' A store employee in an athletic apparel store restocking merchandise. Cramer discussed lululemon athletica inc. (NASDAQ:LULU) in detail after the disastrous earnings report. Here is what he said: 'I thought that LULU would do better. I thought that LULU would do better. I was quite surprised. I just, it was a bad conference call. It was a bad quarter. I am aghast to think that this could be… such a horrible situation. They had tariff problems. They had the wrong fashion. Everything went wrong for Calvin McDonald, and what can I say? I just don't think he's capable of being as bad as that stock was, 17 times earnings. It was a bad quarter, though. And you know… I've thought a lot about this, done a lot of soul searching, I am shocked at how they missed the quarter, and I wouldn't be surprised if there weren't some shakeups if that happened again.' While we acknowledge the potential of LULU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
27-06-2025
- Business
- Yahoo
Jim Cramer on lululemon: 'I Don't Understand LULU'
lululemon athletica inc. (NASDAQ:LULU) is one of the 12 stocks on Jim Cramer's radar recently. When he asked about the company during the lightning round, Cramer commented: 'You know what… I did tell people that I thought it had bottomed, and I was dead wrong. And it's important to own up that I was wrong. I thought it had come down enough that perhaps it could have bounced, and I didn't get it right. So I'm going to punt and say I don't understand LULU. I got it wrong, and let's just move on.' A store employee in an athletic apparel store restocking merchandise. lululemon athletica (NASDAQ:LULU) designs and sells athletic apparel, footwear, and accessories for men and women. The company's products are made for activities such as yoga, running, and training. On June 6, Cramer expressed his shock over the company's recently reported quarter as he stated: 'I thought that LULU would do better. I thought that LULU would do better. I was quite surprised. I just, it was a bad conference call. It was a bad quarter. I am aghast to think that this could be… such a horrible situation. They had tariff problems. They had the wrong fashion. Everything went wrong for Calvin McDonald, and what can I say? I just don't think he's capable of being as bad as that stock was, 17 times earnings. It was a bad quarter, though. And you know… I've thought a lot about this, done a lot of soul searching, I am shocked at how they missed the quarter, and I wouldn't be surprised if there weren't some shakeups if that happened again.' While we acknowledge the potential of LULU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-06-2025
- Business
- Yahoo
Lululemon Is Cutting 150 Corporate Jobs
Lululemon Athletica Inc. is changing up part of its organizational structure, resulting in about 150 job cuts at its corporate headquarters. The impacted employees are part of the yoga-inspired apparel firm's store support centers. More from WWD Beyond Yoga Puts Lululemon and Athleta on Notice With Bigger Store Format Revenue Rises at Lululemon in Q1, CEO Calvin McDonald Bullish Despite Cautious U.S. Consumer Why TikTok Can't Stop Talking About Lululemon's 2-in-1 Dress and Its Styling Frenzy With Shoes: The $148 Debate, Explained 'As we continue to deliver on our strategy, we regularly assess our business operations to ensure we are well-positioned for the future. Following a recent review, we have decided to evolve some aspects of our organizational structure to operate with more agility and further invest in our growth,' a Lululemon company spokesperson said, confirming media reports of the layoffs. 'This is not a decision we made lightly, and we are committed to supporting our employees through this transition.' Despite first-quarter revenue gains, investors earlier this month were spooked when Lululemon chief executive officer Calvin McDonald warned that U.S. consumers were being more cautious in their spends. That sent shares of Lululemon down 22 percent to $258 in after-hours trading on June 5. Shares of the apparel firm have fallen further, and Wednesday's close was down 2.8 percent to $228.65. While the company did provide second-quarter guidance — net revenue in the range of $2.54 billion to $2.56 billion — and kept its top-line forecast for the year, Lululemon did cut its earnings per share to a range of $14.58 to $14.78, down from its earlier forecast of $14.95 to $15.15 in March. BMO analyst Simeon Siegel noted that the updated EPS forecast market the 'first' fiscal-year EPS lowering in the first quarter since fiscal-year 2014. 'We continue to see Lululemon as a strong, but overstretched, brand and worry about long-term domestic revenue sizing,' he said. UBS softlines analyst Jay Sole has shares of Lululemon at 'neutral.' 'A pivotal Lululemon question is if the slowdown in its U.S. business over the last 12-plus months has been temporary, driven by one-off factors, or a sign of something more fundamental. Our main takeaway from Lululemon's 1Q report is the likelihood that something more fundamental is at play has increased,' he wrote in a note. Sole also said the U.S. could slow down in the back half of this year due to the impact of tariffs on consumer spending, and he said that there's also risk that Lululemon's 'China sales growth rate decelerates, too.' This year, the company signed British race car driver Lewis Hamilton as brand ambassador, and in April teamed with the Professional Women's Hockey League for an inaugural collaboration that spotlighted fan-favorite Lululemon designs. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
