Apparently for Lululemon, all publicity might not be good publicity as just yesterday in a press conference, Lululemon admitted that their battered image has taken a toll on its customer traffic. We’ve reported on a lot of news about Lululemon this past month including co-owner, Chip Wilson’sbody shaming women, his ‘apology‘ and their arguably offensive window display. This year has been quite the roller coaster ride for the for the Canadian athletic wear company with PR issues, complaints about the quality of certain styles and a backlog of product in-stores. While they don’t specifically blame the aforementioned issues for dropped shares, chief financial officer, John Currie did say “it’s reasonable to assume.”

And if you can’t take the heat, get out of the kitchen. This year Lululemon said goodbye to a couple of their executive employees. Christine Day, the company’s CEO, announced her resignation earlier in June and Chip Wilson stepped down earlier this week to be replaced by Laurent Potdevin, former CEO of TOMS and Burton Snowboards next month. The retailer is hoping for better sales in the new year and are now focused on “earning back the trust of the guest.”

Source: The Financial Post

Scroll Up