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At Home Fitness

All articles tagged with #at home fitness

business2 years ago

Lululemon reports strong Q1 earnings, raises full-year guidance.

Lululemon reported a 24% increase in sales and beat Wall Street's estimates for earnings per share and revenue in Q1 2022. The company also raised its full-year revenue guidance. Lululemon's at-home fitness business, Mirror, has been weighing on its balance sheet and the company is reportedly looking to sell it. Despite concerns about increased promotional activity and a pullback in discretionary spending, Lululemon's strong sales growth is attributed to its high-end customer base and the success of its price increases.

via CNBC|
#at-home-fitness#business#earnings
business2 years ago

Lululemon considers selling its fitness unit, Mirror.

Lululemon is reportedly looking to sell its at-home fitness business, Mirror, and has approached competitor Hydrow as a potential buyer. The fitness startup was acquired by Lululemon for $500 million in June 2020, but has since been weighing on the company's balance sheet. Lululemon has acknowledged the challenges in the at-home fitness market and has begun pivoting the segment away from being hardware-focused. The company plans to launch a new digital fitness app in the summer that will allow consumers to access digital fitness content without hardware and at a lower price point than its current subscription package.

via CNBC|
#acquisition#at-home-fitness#business
business2 years ago

Lululemon's Mirror acquisition fails to shine amidst holiday sales surge.

Lululemon's acquisition of connected-fitness platform Mirror for $500 million in June 2020 has resulted in a $442.7 million post-tax impairment charge in the fourth quarter of 2022, almost writing off the business entirely. The athleisure company struggled to integrate Mirror operationally, culturally, and from a sales perspective, and Mirror Founder Brynn Putnam stepped down as CEO in September 2021. Lululemon is now considering a future of no longer producing the Mirror hardware and is pivoting away from the "hardware centric" business model.

via Yahoo Finance|
#acquisition#at-home-fitness#business