US: Lululemon shareholder Capital doubles stake?
Capital Group is rumoured to have more than doubled its stake in beleaguered Canadian yoga wear brand Lululemon Athletica, which has been battling falling sales after complaints about the quality of its products.
Capital Research Global Investors now owns 12.7m shares or an 11% interest in the company, a Lululemon filing stated. A Reuters report earlier this week said this is up from 5.9m shares or a 5.1% as of 30 September.
It added that according to Thomson Reuters data, the increase would make Capital Group the third largest shareholder in Lululemon.
Both Capital Group and Lululemon have not yet responded to requests for comment.
Lululemon, which has been embroiled in complaints over the quality of its products for nearly a year, in January lowered its fourth-quarter earnings and sales guidance due to declining traffic and revenue trends.
Last March, the yoga brand recalled a line of sheerer than expected black Luon products. Eight months after, it was forced to pull another line of trousers from its stores after the fabric was also found to be see-through.
lululemon athletica inc. - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and service...
Lululemon Athletica, based in Canada, specialises in the design and sale of technical apparel and accessories for athletic pursuits such as yoga, running and general fitness at premium prices. The com...
Lululemon founder Chip Wilson has announced his decision to step down from the board of directors....
This report provides information on the latest developments in: fabrics for performance apparel; flame resistant (FR) protective apparel; insulation products; protective apparel; sportswear; wearable ...
Sports apparel is worn during workouts or any physical exercise to provide the wearer comfort and style. T-shirts, hoodies, shorts, and tracksuits are typical sport-specific apparel used while playing...
- Levi Strauss raises the bar on sustainability
- Nike reaffirms US production commitment
- Gap and H&M back Myanmar path to labour reform
- H&M faces margin pressure on dollar impact
- Can the Gap brand reclaim its iconic status?
- Myanmar minimum wage set at US$3.2 per day
- Far Eastern to invest $323m in Vietnam textile hub
- Fast Retailing supplier continues strike talks
- China cotton stockpile auction may shake up market
- Under Armour unveils newest retail presence
- Global market review of lingerie - forecasts to 2020
- World Textile and Apparel Trade and Production Trends: The EU - May 2015
- Wool in the 21st Century: new prospects for a familiar fibre
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Myanmar's Garment Sector - Opportunities & Challenges in 2015