Lululemon Cuts Spending but Says It Is Well Positioned to Navigate the COVID-19 Disruption
lululemon athletica (NASDAQ: LULU) is making changes to its short-term spending plan in response to sharp demand declines in recent weeks. Yet the management team says they have what they need to navigate through the disruption to its retailing operations caused by the COVID-19 pandemic.
In a conference call with Wall Street analysts on Thursday evening, CEO Calvin McDonald described a "dramatic" shift in sales volumes as the company closed stores in China, Europe, and the U.S. Most of its Chinese shops are back online now, but other geographies remain closed for business.
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Source Fool.com
