Omicron suppresses Lululemon revenues - sportstextiles: Lea SportsTextiles

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Omicron suppresses Lululemon revenues

11/01/2022
Canadian yogawear company Lululemon Athletica has warned investors that revenue and profits for the the fourth quarter of fiscal 2021 will be at the low end of its expectations.

It suggests revenues will be around $2.125 billion to $2.165 billion, due to impacts connected with the Omicron variant of covid-19.

CEO Calvin McDonald said: “We are closing out a strong 2021 in the coming weeks, and we’re pleased with how lululemon has delivered over the course of the year. 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. 

“I am proud of how our teams continue to deliver for our guests, and we are excited about what the future holds for Lululemon.”


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