Lululemon Athletica inc. (NASDAQ:LULU) is skyrocketing today after the sports apparel company posted better-than-expected first quarter results. Lululemon Athletica inc. (NASDAQ:LULU)’s CEO Laurent Potdevin said in a statement that the company was able to perform well in the first quarter due to the digital transformation. Lululemon now uses professional digital photography, social media, ecommerce and related technologies to market and sell its products. The company is planning to close 40 ivivvia stores because they were reporting losses. About half of these stores will be converted to Lululemon stores by the end of the third quarter this year.
Lululemon Athletica inc. (NASDAQ:LULU) said that its sports bra category has been a hit around the world. Apart from the US, Lululemon is getting a huge response from Japan and China.
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