by Nate Wooley | March 19, 2013 9:20 am
Clothing store Lululemon (NASDAQ:LULU) is recalling a huge amount of its yoga pants that become see-through when worn.
The store also said that it expects the recall — which covers about 17% of the pants it sells — to significantly impact its bottom line, reports CNN. LULU said it will lower its sales growth forecast from 11% to 5%-8% for stores open more than a year.
The stretchy pants become overly see-through when worn, despite having no apparent change in material or manufacturing. In a statement, the company said, “The ingredients, weight and longevity qualities of the pants remain the same, but the coverage does not, resulting in a level of sheerness in some of our women’s black Luon bottoms that falls short of our very high standards.”
The company also said customers can expect a shortage of the pants until the problem is fixed and new garments are produced and distributed.
LULU shares were down 5% in premarket trading Tuesday.
Source URL: https://investorplace.com/2013/03/lululemon-recalls-unintentionally-see-through-pants/
Short URL: http://invstplc.com/1nA5YTV
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.