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Lulemon Fell 60% In The First Quarter, And Its Share Price Plummeted 17%.

2014/6/15 13:55:00 23

Lulemon Profits Fell In The First Quarter And Share Prices Plummeted.

> a href= "http://sjfzxm.com/news/index_x.asp" > Lululemon "/a" today, the day before the opening of the US stock market, the first quarter profit slump was announced and the annual performance expectations were lowered. It shows that the face of the increasingly fierce competition and the slump of the yoga pants in March last year is still a long way to go. 
 Lululemon will reduce the expected income range for the year to February 28, 2015 as expected from the previous 17.7-18.2 billion to $17.7-18.0 billion, adjusted earnings per share from the previous 1.80-1.90 US dollar to US $1.71-1.76, while analysts expect the group's annual revenue and earnings per share to reach US $1 billion 800 million and US $1.89 respectively. 
 Lululemon shares fell 17.8% in the pre trading session on Thursday. The group's share buyback plan and the first quarter results that exceeded market expectations also failed to restore investor confidence. 
 in the first quarter of < a href= "http://sjfzxm.com/news/index_s.asp" > /a > May 4th, Lululemon recorded a net profit of 19 million US dollars, a sharp decrease of 59.8% compared with 47 million 300 thousand US dollars in the same period last year, and the diluted earnings per share decreased from 0.32 US dollars to 0.13 US dollars. Adjusted diluted earnings per share were US $0.34, slightly higher than the US $0.32 expected by analysts and the 0.31-0.33 dollar forecast by the group. 
 total revenue increased by 11% to 384 million 600 thousand US dollars per year, higher than the analyst's forecast of US $381 million, of which total sales in the same store increased by 1%, and the total sales volume of e-commerce was 25%. Gross profit margin rose to 50.9% from 49.4% in the same period last year. 
 Group expects to achieve 0.28-0.30 earnings per share in the two quarter. Revenue is expected to reach 3.75-3.80 billion, and two data are not as good as analysts' expected $0.36 and $387 million 200 thousand respectively. 
 Lululemon held the annual general meeting yesterday. The chairman of the board of directors Michael Casey and another board member RoAnn Costin were successfully re elected by shareholders. But before that, Group founder and largest shareholder Dennis "Chip" Wilson unilaterally declared their opposition to their re-election, because they only focused on short-term performance, sacrificing their long-term goals, product quality, corporate culture and brand value. The Chip Wilson, which owns Lululemon27% shares, has opened up the internal contradictions of the board, making it more haunting since the beginning of 2013, because of the recall of spanparent yoga pants, the Lululemon of Christine Day, the shareholder fraud litigation, the problems of supply chain and the improper remarks of Chip Wilson have been added to the Lululemon. 
Laurent Potdevin, who replaced Christine Day as chief executive of the group in January, "p a" href= "http://sjfzxm.com/news/index_c.asp" this year "/a", hopes to resist market competition through international expansion and expansion of men's wear series. In recent years, the global health campaign has been more and more popular. More and more fashion brands and retailers, such as Gap, H&M and VF, have joined the yoga and sportswear market, making Lululemon, a loyal customer, gradually nibble away from the market share. Laurent Potdevin said in its earnings report that "we are confident that efforts to improve product quality and supply chain can enhance the high-end positioning of the brand" and strengthen the distinction between fast moving fashion brand and low-cost sports product line. 
 group also announced that CFO John Currie will retire after the end of the financial year. The group will hire a headhunting company to identify its successor.