Lululemon says that “novelty” deals with problems. The economy is not cooperated.

According to CEO von Lululemon (Lulu), the company deals with its “novelty” problems. Unfortunately there are other problems.

In the most recent income conference of the Athletic Wear Company on Thursday, CEO Calvin McDonald updated the investors about how Lululemon addressed the problem of “novelty” – in short, that his customers were not inspired by his product mix for purchase last summer. The examples he quoted included fresh shorts for men, pants for women and a number of yoga wear.

“We have comparable our novelty to the past,” said McDonald in the telephone conference, the transcript of which was provided by alphasense. “We believe that this increase together with a robust innovation pipeline will enable us to meet the expectations of our guests. And I am excited to see what the product teams will bring on the market this spring and all year round.”

However, the shares sank on Friday and partially pulled lower due to a disappointing view of the company. The share continued to fail today and glued more than 3% to increase its decline in its decline to around 25%. The stocks that currently traded a little over $ 280 were over $ 400 each in the early this year.

McDonald in the call referred to a “more careful consumer”, a term that can be seen in a number of companies and economic indicators. Lululemon, he said, recently carried out a survey in which it was pointed out that consumers spent less exposing due to concerns regarding the economy and inflation.

“This manifests itself to slower traffic in the United States in the first quarter, which we also experience in our business,” said McDonald in the call.

The analysts of the Wall Street generally remain optimistic about Lululemon shares, whereby the average price target of the street affects the Alpha data nearly $ 400.

“We will control what we can control and we will focus on continuing to deliver the high degree of novelty and product innovations that our guests expect from Lululemon,” said McDonald.