Lululemon Lowers Forecast Due to Weak U.S. Sales
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The sportswear manufacturer now estimates that higher tariffs will reduce profits by USD 240 million in the current fiscal year. After struggling with weak business numbers in the U.S., Lululemon Athletica has lowered its annual forecast. According to CEO Calvin McDonald, an outdated product range and complacency are to blame, causing the company to miss some trends. Reasons for the Weak Performance CEO Calvin McDonald stated on Thursday that the company has become too reliant on some of its core products, such as the Scuba sweatshirts, for...
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