Latest news with #CraigJohnson
New York Post
11-07-2025
- Business
- New York Post
Shoppers are souring on Lululemon — and chain is getting squeezed by rivals
Shoppers are souring on Lululemon — and the once-thriving yoga chain is meanwhile getting squeezed by new rivals. The pricey retailer known for its $100 leggings has been discounting at 'alarming rates' — even as it has been losing customers to competitors, according to new research from investment bank Jefferies. At one location ahead of the July 4 weekend, a slim-fit skirt was marked down to $49 from $78 while a pair of jogger pants were marked down to $89 from $128. 5 Lululemon was known for being stingy with discounted apparel, but that's changing now. SOPA Images/LightRocket via Getty Images A windproof golf vest was marked down to $79 from $128, according to a July 2 Jefferies report. The discounting is striking for a retailer that traditionally sold most of its merchandise at full price, Craig Johnson, president of Customer Growth Partners told The Post. 'Historically 95% of their stuff was sold at full price, now they are lucky to get 75% at full price,' Johnson said. Meanwhile, competitors Vuori and Alo Yoga are going for Lululemon's jugular – and have been gaining market share since February, according several recent Jefferies research reports. 'Alo and Vuori are coming after Lululemon,' Jefferies analyst Randal Konik told The Post. The privately-held chains are muscling in on Lululemon's turf, opening stores across the street and next door in shopping malls and big cities. On Fifth Avenue in Manhattan, Lululemon's flagship faces an Alo store at the corner of West 48th Street. Alo, founded in 2007 in Beverly Hills, has 99 stores in the US. San Diego-based Vuori has 93, according to their websites. 5 Alo opened a store across the street from Lululemon on the corner of W. 48th St. and Fifth Avenue. NYPost/Lisa Fickenscher Both ramped up their retail expansion over the past few years, according to Konik, and have leaned heavily into social media and influencers. Alo, for one, has bankrolled campaigns with Kendall Jenner, Hailey Bieber and Bella Hadid. In response, a frantic Lululemon has made a few missteps, including introducing 'loud' colors and sweaters and jackets that customers don't typically associate with the athleisure brand, Konik says. Bright red, yellow, blue, green and purple merchandise looks more like 'Sesame Street,' Konik laments, and is overwhelming the muted, soft pastels the Vancouver-based chain is known for. 'They are trying to extend the brand to non-athletic people, but these non-core products are on sale,' said Konik, who has maintained an 'underperform rating on Lululemon shares for the past two years. 5 The yoga-gear company has recently added bright red, green, purple and yellow apparel to its assortment. Getty Images Lululemon's stock price is down 38% this year, closing at $238 on July 10 and down 54% from its all time high of $516 in December 2023. At the Lululemon store this week, there were four markdown racks on the third floor filled with bright green, pink, orange and neon yellow, leggings, shorts and jackets. Green leggings were $69, down from $98, and a pair of orange shorts were $49, down from $68. A white windbreaker was $129, marked down from $148. The Alo store across the street had similarly priced items — but there were no sales racks to be found anywhere in the store. Over the past several years, Lululemon has opened at least two dozen outlet stores up from just a handful in 2019, according to Johnson. 5 Lululemon is trying to attract non athletic customers, according to Jefferies analyst Randal Konik. Bloomberg via Getty Images 'The bulk of their highest grossing stores are the outlet locations,' Johnson added. Lululemon is also leaning into 'logomania,' slapping its name across sweatshirts, jackets and baseball caps – eclipsing its subtle 'Omega' logo that is on every piece of merchandise. 'There's no end to logomania,' Konik writes. Management 'is zeroing in on 'newness' as a panacea for their product struggles…however the outcome is a disjointed assortment that's failing.' The company did not respond to requests for comment. In June, it reported that revenues increased by 7% to $2.4 billion in the first quarter ended on May 4, but most of that growth was overseas. Comparable store sales in North America decreased by 2%, the company said. 5 Lululemon has recently added bright colored apparel to its assortment. Bloomberg via Getty Images In June, the company said it is laying off 150 corporate employees, according to a Retail Dive report. It cut its profit forecast for the year in June, blaming outside factors. 'We experienced lower store traffic in the Americas, partially reflective of economic uncertainty, inflationary pressures, lower consumer confidence, and changes in discretionary spending,' Lululemon said in a statement. In July, it also sued Costco, accusing the massive discounter for ripping off its designs, selling hoodies and pants for $8 and $10 – compared to Lululemon's $118 and $128 price tag for similar products – that look too similar to high end retailer's products. With 770 stores, Lululemon is still the number one chain among premium athleisure brands, including The Gap's Athleta chain – with 250 stores – and Free People Movement –with 68 stores. 'The brand is still strong and has loyal customers,' Johnson said. 'But they have had some chinks in their armor.'
Yahoo
10-07-2025
- Yahoo
Chicago suburb cracks down on 'dangerous' e-bike riders
The Brief Elk Grove Village officials issued a warning after more than 15 minors on e-bikes and dirt bikes rode dangerously through town, ignoring traffic laws and fleeing from police. The incident happened shortly after the village enacted a new ordinance requiring e-bike riders to have a valid driver's license and stay on roads under 35 mph. Violators could face fines of up to $200 as police continue to monitor and enforce the new rules. ELK GROVE VILLAGE, Ill. - Elk Grove Village officials are speaking out after a group of young people riding e-bikes and dirt bikes created a "dangerous situation" in the suburb. The suburb, on July 1, implemented a new ordinance aimed at addressing the misuse of e-bikes in the village—and now, they are cracking down. What we know As e-bikes surge in popularity, several suburbs are hitting the brakes. Police said more than a dozen minors rode e-bikes through the village on Monday, running red lights, weaving through traffic and breaking several laws. Officials shared surveillance images from the incident, which unfolded outside of Village Hall. "About 20, what we call mini dirt bikes, were going down Biesterfield Road, went through the light and everything," said Elk Grove Village Mayor Craig Johnson. According to police, the riders fled from officers when they tried to stop them. "Every town's had enough of it. They're fed up. And the bottom line is this — it's all about safety," Johnson said. "Someone's going to get killed. We don't want that to happen in Elk Grove." The warning comes days after a new ordinance was implemented that requires all e-bike riders to provide a valid driver's license when riding on village streets. They must also obey the rules of the road and stay on streets with speed limits below 35 mph. E-bikes are not permitted on public sidewalks, but electric scooters are — as long as riders follow proper safety rules. To utilize an electric scooter on the roads in Elk Grove Village, a driver's license is required. Riders who violate the rules could be subject to fines between $50 and $200. Five of the minors from this week's incident were identified and ticketed, Johnson said. One of them, he added, drove several miles to get there. "Unlicensed all the way from Hanover Park into Elk Grove, so these are not just little harmless things, these are full-sized, operating machines that should be licensed by the state and controlled by people that know how to use them, i.e., a driver's license," Johnson said. Johnson adds that juveniles who are caught violating the ordinance will be held with police until they are picked up by a parent or guardian. What they're saying Many community members, including Amy Tripp, are welcoming the new limits. "There needs to be some safety and regulation on that," Tripp said. Tripp said she's seen juveniles operating motorized vehicles at high speeds; one, she says, almost knocked over her friend's daughter near a local park. "And [the riders] are not looking out because they are thinking they are pedestrians, but then the people driving are having to worry about these quick and fast. It's an accident waiting to happen," Tripp said. What you can do Elmhurst, Glen Ellyn, Hinsdale, and Schaumburg are just some of the suburbs that have passed similar ordinances. For more information on e-bike restrictions in Elk Grove Village, click HERE. The Source The information in this report came from the Elk Grove Police Department.
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Business Standard
09-07-2025
- Business
- Business Standard
Nvidia hits $4 trn market cap; first company ever to reach the milestone
A rally in the world's largest technology companies spurred a rebound in stocks, with Nvidia Corp. hitting $4 trillion - the first company in history to achieve that milestone. Treasuries held steady ahead of a $39 billion sale of bonds and minutes from last month's Federal Reserve meeting. Equity traders brushed off tariff angst to send the S&P 500 closer to its all-time highs. A measure of megacaps climbed about 1.5 per cent, with the giant chipmaker extending this year's surge to more than 20 per cent. Microsoft Corp. advanced on an analyst upgrade. Apple Inc. underperformed as White House trade counselor Peter Navarro told Fox Business the iPhone maker thinks it is 'too big to tariff. 'We believe the setup for equity markets looks bullish, even in light of renewed trade-war jitters,' said Craig Johnson at Piper Sandler. 'While equities may come under some near-term pressure, investors are increasingly becoming numb to the tariff headlines and instead focusing on the trendlines.' Just a day after President Donald Trump escalated his trade rhetoric, investors awaited tariff announcements for a number of countries. He foreshadowed an update to the trade status of at least seven nations to be released Wednesday morning, Washington time, with more to come in the afternoon. Treasury 10-year yields were little changed before Wednesday's sale of the maturity, the second in a trio of auctions that will culminate in an offer of longer-term debt. The dollar wavered. 'Our sense is, although investors are likely increasingly fatigued over tariff news flow, as markets hover around overbought levels any whiff of bad news could place downward pressure on stocks over the very near-term,' said Chris Senyek at Wolfe Research. 'To that end, we continue to remain defensively positioned while favoring particular cyclicals/secular growth groups.' Senyek says that even though we've yet to see the full impact of the Trump Administration's tariff policy work its way into prices, leading price indicators have risen sharply on the goods and services side of the economy. 'As a reminder, we see stickier inflation as the biggest risk for stocks in the back half of 2025,' he said. 'Our sense is a rise in price pressures could keep the Fed holding rates steady over the remainder of the year as the labor market continues to remain in a solid balance.' (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
CNBC
25-06-2025
- Business
- CNBC
Johnson: Russell 2000 likely to hit a new high before mid-October
Craig Johnson, Chief Market Technician at Piper Sandler, says markets are resilient despite macro risks and sees upside in small caps, forecasting a 16% rise in the Russell 2000 by mid-October.
Yahoo
10-05-2025
- General
- Yahoo
Veterans Appreciation Service for Mower County veterans to be hosted by Grace Lutheran
May 9—The Grace Lutheran Church Veterans Appreciation Sunday Service will be held at 10 a.m. on Sunday, May 18 at Grace Lutheran Church in Austin located 2001 6th Ave SE, Austin. This year's service marks the 22nd year that Grace Lutheran has held this service. The speaker this year is Craig Johnson, captain, armor, in the United States Army Reserve. Johnson is a retired attorney from Austin. The idea of this service came from Richard and Lavona Johnson. Richard was a veteran of the US Navy during World War II. During this service, each branch of the military has their flag displayed and as the congregation sings that branch's veterans of that branch are asked to come forward to be recognized. "It is a very moving service" said Randy Mickelson, organizer of this year's service. "As a veteran, I take pride in standing with the other men and women that have honorably served our country." For many veterans of the Viet Nam conflict, this service was the first time that they had been thanked for their service. Everyone is invited to attend. All veterans, their families and friends are encouraged to join us. A light lunch will be served following the service, courtesy of Grace Lutheran WELCA.
