Description: Omicron has claimed its first retail victim. On Monday, Lululemon Athletica Inc. said that fourth-quarter sales and earnings would be toward the low end of its expectations — quite a surprise considering the company has been one of the industry’s stronger performers, and the holiday shopping season was expected to hold up despite the new variant. The shares fell as much as 9 per cent in early trading.
Source: BNNBloomberg.ca – video report
Date: Jan 10, 2022
Questions for discussion:
- How did Omicron affect Lululemon sales?
- Do you think the impact is likely to dissipate as normal retail shopping returns over time?
- What can marketers do in the meantime?