This article was last updated on April 16, 2022
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Chief Financial Officer of Vancouver-based retail giant Lululemon Athletica Inc., John Currie, recently mentioned in a conference that the company is ready to learning from the mistakes made in 2013 and is on its way to improve its public image. He alleged that the company is taking the negative public relations it suffered from last year and putting in place measures, including investments in “small acts of kindness” by local store employees in order to draw back customers.
Mr. Currie was addressing a retail and consumer-product investment conference in Orlando, Fla. on Tuesday, when mentioned that “what doesn’t kill you makes you stronger” referring to the year 2013. “I’m joking, but not really.” Addressing the ICR XChange conference, Mr. Currie alleged that 2013 was a year that “we’re quite happy to see going behind us.” He pointed out that it was a wakeup call for the retailer to deal with a string of problems, including grave quality issues, a costly recall of its signature black stretchy pants for being too sheer, leadership changes and bad publicity from founder statements made by Chip Wilson, which created an uproar and ultimately saw him step down as chairman.
In a formal announcement made by the company on Monday, it disclosed to have had lowered its fourth-quarter forecast. The fourth-quarter sales were now pegged to be between $513-million (U.S.) and $518-million, though previously they were estimated to reach between $535-million to $540-million. Moreover, the company revealed that its same-store sales have slipped in the “low to mid-single digits” compared with a previous no-growth estimate.
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