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)
Earlier…Lululemon Seeks Tweeny Boppers, Abandons Yoga Niche for Expanded Fitness Fashion
Greatness Risk: Lululemon Profit Slump, Lower Prices? Eh, That’s Mediocre
You are too funny – our local store is already a mad house of loyal shoppers looking for yoga mats, hoodies & gear wrapped up in a bow under the tree.
Why only a brief mention of the agreement between Manduka and Lululemon? And without even a nod to the shame of this agreement. This is absolute hypocrisy on the part of Manduka…check out their own statement from the article–Manduka is “Developed with the mission of staying connected to its community-focused identity…” Selling products EXCLUSIVELY at Lululemon is not an act of a community-focused identity. In the past, Lululemon utilized local shops to introduce Lululemon products to the community, then when sales proved to be adequate, would move in, trying to dominate the local scene, driving local stores out of business. So now any local store that sells Manduka products has to sit back and watch a corporate chain, and one as lame as Lululemon, get new, Exclusive products. That scenario is wrong on many levels. This should be making people angry (I promise you that it is for those local stores who’ve built relationships with Manduka only to see Manduka sell out to corporate interests). Sure Lululemon gets community support, because they fork out payments and provide attire to local teachers (which local shops usually can’t afford). But BUYING your way into a community is not the same thing as earning the respect of the community. Shame on Manduka! And shame on Yoga Dork for missing the real story.
I thought I was alone in my disgust at Manduka’s decision to partner up with Lululemon to offer Lululemon-exclusive sweatshop labor gear. Thankfully, my yoga peeps know what’s up – we had an interesting discussion about the horrible-ness of Lululemon after yoga today. Lululemon is such an out of integrity, horrible chain that does NOT promote community but instead deceitfully prints “DESIGNED in Canada” on their tags while some of their clothes are manufactured overseas. Manduka, you have officially sold out. I thought you were smarter (and more conscious) than that. And keep up the good work, Lululemon, you have turned a yoga clothing brand into another soul-less, ego-filled status symbol.
In consumer culture, big names (such as lululemon) either get too ubiquitous (think of the fall of Benetton and Esprit) OR unshakably dominant as The Brand (think iPod). Which way will lululemon go? What is the tipping point from cool to commonplace? It’s now a large corporation and everyone wears it, fit or fat, yogi or not. One good aspect: they do make their garments in Canada.
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