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Lululemon’s US struggles weigh on sales outlook for the year

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1 week ago

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Bloomberg

Published



March 27, 2025

Lululemon Athletica Inc. delivered a disappointing outlook for the year ahead amid slower US sales for the yogawear brand.

-Lululemon – DR

The retailer expects fiscal year sales to be in the range of $11.15 billion to $11.3 billion, lower than Wall Street analysts anticipated. The outlook for first-quarter revenue also missed expectations. 

Chief Executive Officer Calvin McDonald is working to lift demand by expanding the brand’s product assortment and entering new categories, adding gear for sports like golf, tennis and running. The brand has been contending with fluctuating fashion trends, trying to adapt to shoppers that prefer looser clothes rather than the form-fitting clothes that are the brand’s hallmark.

Chief Financial Officer Meghan Frank acknowledged that the company is trying to navigate “ongoing macro uncertainties.”

McDonald laid out a long-term strategic plan three years ago that called for doubling sales to $12.5 billion by 2026. The company is sticking by that plan for next year, but increased competition has slowed growth, especially in North America. 

The overseas business has performed better. In the fourth quarter that ended Feb. 2, comparable international sales rose 22%. By comparison, the Americas business was flat.

The Vancouver-based company is facing concerns about consumer spending and supply chain costs amid an escalating trade war between President Donald Trump and countries around the world. Lululemon has most of its goods manufactured in Asia, including in Vietnam, Cambodia and Sri Lanka, according to regulatory filings.

The shares fell 6.6% in extended trading at 4:19 p.m. New York time. The stock had fallen 11% this year through Thursday’s close.
 



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Montblanc opens new Chicago boutique

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19 minutes ago

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April 6, 2025

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Montblanc has opened a new boutique in Chicago at 15 E Oak Street, relocating from its previous Michigan Avenue location. 

Montblanc opens new Chicago boutique. – Montblanc

The new boutique spans 1,427 square feet and blends modern design with Montblanc’s rich heritage. It houses the full universe of the brand including its signature writing instruments, Swiss-made timepieces, fine leather goods, and accessories.

“Chicago has long been an important city for Montblanc, with a discerning clientele that appreciates the Maison’s dedication to craftsmanship and excellence. With our new boutique on Oak Street, we are offering a space that not only showcases our iconic writing instruments but also our expanding collections in leather goods, watches, and accessories,” said Sylvain Costof, Montblanc president Americas. 

“This move is a testament to our commitment to creating immersive experiences for our customers so they can discover or re-discover the universe of Montblanc in a compelling way.” 

The boutique’s façade is crafted from two black striped concrete slabs featuring the silhouette of the Mont Blanc mountain and Montblanc’s emblem. 

Inside, Montblanc’s signature black-and-white aesthetic is elevated with golden details inspired by the Meisterstück writing instrument and coral touches drawn from the brand’s archive. Other design elements include lamps made from writing paper, calligraphy wallpaper featuring the infinite figure eight, and decorative wall nibs.

A store highlight is the Collectors Wall, where Montblanc’s most sought-after limited-edition writing instruments from collections like Great Characters, Masters of Art, and Writers Editions are displayed. An expanded timepiece collection is also featured. 

For the opening, Montblanc commissioned artwork from Berlin-based contemporary artist Alexander Iskin.

To complete the shopping experience, the boutique offers personalized services such as on-site embossing and engraving. 

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Prada to make a decision on Versace deal this week, source says

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53 minutes ago

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April 6, 2025

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By

Reuters

Published



April 6, 2025

Italian luxury group Prada is set to make a decision this week about a potential takeover of smaller rival Versace, a source close to the matter said on Sunday, as the negotiations enter a final phase.

See catwalk
Versace – Fall-Winter2025 – 2026 – Womenswear – Italie – Milan – ©Launchmetrics/spotlight

A deal to buy Versace, owned by New York-based Capri Holdings, would unite two of the biggest names in Italian fashion.

Italy’s Corriere della Sera newspaper reported on Sunday that a potential deal could be announced on Thursday, April 10 and the price for loss-making Versace could be reduced to 1 billion euros ($1.1 billion), one third lower than initial reports had indicated.

Italian daily La Repubblica reported on Saturday that Capri Holdings’ Chief Executive John Idol is expected in Milan in the coming days to discuss the deal.

Prada got exclusive four-week access to Versace financial data in late February, a period which has since been extended, according to media reports.

President Donald Trump‘s new tariffs have since sent shockwaves through global markets, adding an extra layer of complexity to the negotiations.

Versace, where former Miu Miu designer Dario Vitale assumed Donatella Versace‘s role as Chief Creative Officer this month, was bought by Capri Holdings for 1.8 billion euros in 2018, but has recently been operating at a loss

© Thomson Reuters 2025 All rights reserved.



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Tariffs on Switzerland add to allure of preowned luxury watches

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1 hour ago

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April 6, 2025

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By

Bloomberg

Published



April 6, 2025

Luxury watch resellers say they’re seeing an uptick in interest in their products with the US poised to impose a 31% levy on Swiss exports to the US.

Collectability

John Reardon, the founder and CEO of Collectability, an online platform for pre-owned and vintage watches made by Switzerland’s Patek Philippe, said he’s hearing from clients looking to make immediate purchases. 

“Their logic is that a Patek Philippe is better than gold, better than bitcoin and certainly better than money in the bank,” Reardon said. The brand’s timepieces, which generally cost tens of thousands of dollars, are among the most sought-after in the world. 

A spokeswoman for Patek Philippe declined to comment. 

Reardon predicted “a sudden upward bump in demand for vintage and pre-owned watches” in the US. Some customers might even go directly to Geneva to purchase timepieces if watches in the US become more expensive, he added. 

Sales of luxury goods may suffer if the US economy slows in the wake of the global trade war, as some economists forecast. But the preowned market could benefit from an increase in supply, said Eric Wind, founder and owner of Wind Vintage, which buys and sells vintage watches. Tougher economic times can encourage luxury watch owners to sell their timepieces to generate extra cash, he said. 

Wind said clients have been peppering him with more purchase requests. He also sells directly to other dealers, who have been in a frenzy.  

“Your average consumer hasn’t necessarily thought through how this will affect them,” Wind said of the tariffs. Dealers, preparing for a surge in interest once more consumers realize the potential impact of the new duties, are responding by “literally buying hundreds to secure inventory,” he said on Friday. “I’ve never seen anything like it.” 

The US imposed high tariffs on Swiss watch imports in the 1950s, which initially helped to buoy the fortunes of American-made watches, according to Wind. But those watch companies weren’t innovative enough to compete with Swiss watchmakers when the tariffs were eventually lifted, he added. 

 



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