Drop in Lululemon sales steeper than expected

12/06/2020

Lululemon Athletica’s drop in quarterly revenue was more than anticipated, as the yoga wear brand contended with store closures due to covid-19 lockdowns.

Net revenue was $652 million in the first quarter ended May 3, down from $782.3 million during the same period last year. This was notably lower than the $688.4 million analysts had previously forecast, Reuters said.