Lululemon's new CEO has had an "uninspiring tenure" so far, and the yoga brand is suffering from an exodus of loyal customers, according to analysts at Sterne Agee.
The firm has downgraded the retailer from "neutral" to "underperform," citing lasting damage from product-quality issues and difficulty attracting new customers, among other issues.
"Many customers have left and it's hard to get them back, especially given the focus on the women's active apparel business from brands such as Nike and Under Armour, and retailers such as Athleta, Sweaty Betty, Victoria's Secret, and others which have bitten into LULU," Sterne Agee analyst Sam Poser writes.
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%0D%0A%20%20The%20firm%20has%20downgraded%20the%20retailer%20from%20"neutral"%20to%20"underperform,"%20citing%20lasting%20damage%20from%20product-quality%20issues%20and%20difficulty%20attracting%20new%20customers,%20among%20other%20issues.%0D%0A<%2Fp>%0D%0A
%0D%0A%20%20"Many%20customers%20have%20left%20and%20it's%20hard to%20get%20them%20back,%20especially%20given%20the%20focus%20on%20the%20women's%20active%20apparel%20business from%20brands%20such%20as%20Nike%20and%20Under%20Armour,%20and%20retailers%20such%20as%20Athleta,%20Sweaty Betty,%20Victoria's%20Secret,%20and%20others%20which%20have%20bitten%20into%20LULU,"%20Sterne%20Agee%20analyst%20Sam%20Poser%20writes.%0D%0A%0D%0A%0D%0Ahttps%3A%2F%2Fwww.printandpromomarketing.com%2Faggregatedcontent%2Finsiders-think-lululemon-is-serious-trouble%2F" target="_blank" class="email" data-post-id="14112" type="icon_link"> Email Email
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