Lululemon took a pivot in the right direction amid the Coronavirus outbreak. Despite the brand’s temporary closure of all U.S. stores on March 16, they continue to use their creativity to utilize their brick-and-mortar infrastructure during this time.
Lululemon announced their plan to use its closed brick-and-mortar stores as ship-from-store locations in order to fulfill online orders. The retailer can immediately access product at any point due to their investments in RFID technology; allowing localized shipping to customers in locations closer to physical store presence.
“We will be opening up some locations from a ship-from-store perspective and have a small number of staff operating that. That’s going to allow us to continue to manage that inventory that’s already in the network very effectively,” said Calvin McDonald, Chief Executive Officer.
The athletic apparel company currently has $1 billion in cash and no outstanding debt. And they are planning for “multiple scenarios” during this unprecedented time.
McDonald noted that their growth from quarter 4 and fiscal 2019 and overall strong business health will provide the brand with “many levers to successfully manage through this period.”
“It’s inspiring to see the strength of our guests come together this way and will continue to stay closely connected as we navigate what’s ahead,” McDonald said.
Source: Lululemon Q4 Earnings 3/26/20
Photo Credit: Lululemon Instagram
—
About lululemon athletica inc.
Lululemon athletica inc. (NASDAQ:LULU) is a healthy lifestyle inspired athletic apparel company for yoga, running, training, and most other sweaty pursuits, creating transformational products and experiences which enable people to live a life they love. Setting the bar in technical fabrics and functional designs, lululemon works with yogis and athletes in local communities for continuous research and product feedback. For more information, visit WWW.LULULEMON.COM.
