1:39 a.m. Jan. 10, 2022
- By Ciara Linnane
Lululemon shares slide 7% premarket after company guides to low end of ranges as omicron hurt staffingLululemon Athletica Inc. shares slid 7% in premarket trade Monday, after the maker of yoga gear said fourth-quarter sales and profit will come in at the low end of its guidance ranges, after the omicron variant of the coronavirus hurt staffing levels in certain locations. The company is now expecting per-share earnings to come in at the low end of a $3.24 to $3.31 range, and for adjusted per-share earnings to come in at the low end of its $3.25 to $3.32 range. It expects revenue to come in at the low end of its range of $2.125 billion to $2.165 billion. "We started the holiday season in a strong position but have since experienced several consequences of the Omicron variant, including increased capacity constraints, more limited staff availability, and reduced operating hours in certain locations," Chief Executive Calvin McDonald said in a statement. Shares have fallen 2.8% in the last 12 months, while the S&P 500 has gained 22%.
3:35 a.m. Aug. 30, 2021
- By Tonya Garcia
Loose-fit jeans are a plus for Levi StraussLevi Strauss & Co. , and the rest of the denim category, are benefiting from a loose-fit jeans tailwind, according to Wells Fargo, which initiated the denim icon at overweight with a $31 price target. Levi Strauss holds the top global position in the category, and the trend is in "early innings," according to analysts. "Furthermore, prior trends such as color or distressed are 'finish' trends, and these come and go on shorter time frames, while silhouette or 'fit' trends tend to last longer (the low-rise boot cycle prior to the skinny jean lasted five-to-eight years)." Wells Fargo also highlights the company's recent acquisition of , which gives Levi Strauss a foothold in the booming athleisure business. And Levi Strauss' moves away from wholesale into higher-margin direct-to-consumer are a plus. Levi Strauss shares have run up 33.8% for the year to date while the S&P 500 index is up 20% for the period.
1:48 a.m. Aug. 26, 2021
- By Tomi Kilgore
Lululemon to raise minimum wage to $15 or $17 per hourLululemon Athletica Inc. said Thursday that it will raise the minimum base pay for most of its North America employees to $15 or $17 per hour, depending on their role in the market. The yoga gear and apparel seller's stock was still inactive in premarket trading. The new minimum base for its store and Guest Education Centre (GEC) employees is effective Sept. 27. Employees will also remain eligible for the bonus program, with the possibility to earn an additional $3 an hour on average, and up to $6 an hour, for reaching store-based goals. The company said it plans to hire more than 8,000 employees in North America for the holiday season. Lululemon becomes the latest company and many different sectors to raise its minimum hourly wage, such as MetLife Inc. last week, , and CVH Health Corp. earlier this month to . Lululemon's stock has rallied 23.8% over the past three months while the S&P 500 has gained 7.2%.
3:46 p.m. Feb. 21, 2021
- By Quentin Fottrell
My daughter-in-law will only have a second child by surrogacy — and wants to use $200K of my son’s inheritance to pay for it ‘He has already dipped into capital by covering his wife’s $250,000 in college and credit-card debt before they were even married — a pretty heroic rescue!’‘He has already dipped into capital by covering his wife’s $250,000 in college and credit-card debt before they were even married — a pretty heroic rescue!’