Lululemon's Leggings Keep Hitting Snags

Dow Jones
09/04

1828 ET - Lululemon is still having problems with its core products, including leggings and women's tops, interim co-Chief Executive and Chief Financial Officer Meghan Frank tells investors on a call. Leggings sales declined 20% in the second quarter, which Frank says was below management's expectations. Part of the problem is that customers are looking for baggier silhouettes, Frank says. The company has seen better momentum with wide-leg pants and joggers. That growth helped offset some of leggings' decline, bringing overall bottoms sales down by a mid-single-digit percentage, Frank says. Shares slide 18% after hours.

 

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