Athletic wear makers like Lululemon and rival Nike have flagged higher demand for apparel and merchandise as consumers turned to home workouts during lockdowns, but that failed to offset the hit from store closures. Lululemon’s yoga classes, popular among its target millennial shoppers, were also put on hold due to the pandemic, leading to a 17% decline in revenue. “What we experienced in quarter one and will, quite honestly, for a little bit through 2020, are some short-term operational challenges,” Chief Executive Officer Calvin McDonald told analysts. …read more
Source:: Yahoo Finance
