There is no doubt of the success of Lululemon, the go-to store pricey athletic apparel. They rarely put items on sale, and when they do they are in very limited quanities. Is that all about to change?
According to Business Insider, a financial update from the company reveals that profits are down, making some investors raise eyebrows. So will they change up their game plan? Maybe putting a tank or two on sale? No, not at all.
Lululemon's CEO Christine Day explained her stay-the-course methods:
People thought we were going to start playing that game, which absolutely isn't true. You can't blink. The consumer sees Black Week, which is what we call the week of Black Friday and Cyber Monday, and the consumers are savvy and they're waiting for retailers to discount. You'll either offer promotions or not, and we're in the "not" category. You've got to shape your buying patterns to respond to that. If you're not going to discount you've got to have some bold and unusual things planned, which we do here.
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