The Vancouver-based athleisure company “experienced spikes of negative commentary in the media” and product launches that have not been well received, said interim co-CEO and CFO Meghan Frank in a conference call Thursday, citing a recently resolved public battle over the company’s leadership with founder Chip Wilson, and product reveals that included see-through leggings and unflattering butt seams. (The Logic)

Talking point: Lululemon said it now expects to bring in US$11 billion to US$11.15 billion for the year, down from its prior expectation of US$11.35 billion to US$11.5 billion. The updated outlook came as the retailer said its net revenue and comparable sales dropped in the first quarter compared to the same time last year, led by decreases in its Americas performance. Lululemon shares dropped more than nine per cent in midday trading Friday, on the negative earnings report. Tom Nikic, an analyst at Needham & Company, called it “another challenging quarter,” and highlighted that North America’s underperformance is worsening and the international market is becoming more volatile.