Have no fear! Were you worried the Recession would never bounce back like your footprints on an extra squooshy yoga mat? Yoga (the practice and the business) has held strong through this saggy economy, which took a face plant over a year ago. But hey, a little goalsetting and profit forecast adjusting later and we’re back in business! Well, for Lululemon anyway, and that means back in the good graces with investors as their outlook for Q3 was just announced to surpass previous projections – forecasts of a paltry 11 to 13 cents net income have now been jacked up to an expected 17 to 19 cents. Rejoice!
The Canadian company also estimated revenue will be between $110 million and $112 million, up from a prior forecast of $95 million to $100 million. Lululemon believes sales at stores open for at least a year will grow in the high single digits, rather than be flat year-over-year.
If that’s not an indication of Americans seeing the odor-reducing silver lining in the storm clouds of recession then we don’t know what is!
Lulubirds can thank their new running line and expanded fitness offerings* (and probably the menacingly fast approaching tweenybopper offshoot, ivviva) for their frowns turned upside down. Not to mention the somewhat ubiquity of yogapop and permeation of yoga pants as a status symbol in today’s culture. Maybe now they won’t even have to open a yoga studio franchise!
And there you have it. Greatness prevails. Christmas is saved!
*Cross pollination is also a helpful tactic like the new exclusive cahootin’ deal to turn Manduka’s Mat PRO (the yuppie mat) from standard sophisticated black to “power purple”. Cute. (also perky bright eQua towels and bolsters)