The hits just keep on coming. Here's another one from about 45 minutes ago:
"Chip Wilson CEO is an ignorant #$%$, which is exactly where he can stick the Lulu lemon pants that I bought. I have since returned my pants to Lulu Lemon on account of Chip's rude and ignorant comments about women. I will not buy from this company again."
executive making dumb statement
to drag down company and stock price
attacking women for their sheer pant problem
not involved yet but watching from sideline
Lots of comments like this one on their FB page:
"I am a fit Pilates instructor, a fit Spinning® instructor, 5'4" tall, 118 lbs of muscle. My thighs touch bc I have narrow hips and my Q-angle (ever heard of THAT?) is small. I have thin legs. I used to wear and represent Lululemon @ClearlyPilates. I just wanted you to know a little bit about a customer you lost. I see clients every day struggling with body image and poor self-esteem bc of pressure from society and people with misperceptions like you. You said it bc you believe it; an apology forced by a potential financial loss is meaningless."
He can afford to be arrogant as he will never spend all his money. Certainly unwise with these negative statements for the short term pricing of the stock. Great for shorts.
sheer pants and no new ceo?
miss lulu is crying in despair
this bottom fisher keeps
a close eye for a bottom price
Last week Friday I was at mall at lunch, two stores that were really busy,
Lululemon and Michael Kors. As I said, despite all the bad press, the stock is holding up. I don't have any positions right now but will go long ahead of earnings in December.
Hey DUD (no E),
Net net I have made money in both so you have no clue of what you speak of. Keep holding this stock, as a matter of fact buy more up and through it's 50DMA should it get above there.
The brand has never looked better. Who cares about the see through black luon pants, the piling issue and the co-founder dissing chubinski women.
The CEO is on her way out, no new CEO yet. What else is around the corner for this premium brand that is quickly losing its luster?
You've been shorting LULU and CRM for a long long time but each time you get a pounding. Dude, despite so much negativity this stock is holding up very strong. Think why ??????
A lot of MOMO stocks or previous MOMO stocks seem to be propped up and IMHO it seems connected to QE forever, particularly over the last 3-6 months.
This too shall pass especially in companies that aren't getting it done. This stock could fall substantially from here. Maybe before earnings, maybe after or both, we shall see.
I currently have no position here but based on my post you surely know I would be looking on the short side.
Gotta give Chip & Shannon credit. They can now be rich smarmy 1%'ers thumbing their noses at the consumer zombies who helped LU's "Create an image but make it dirt cheap in China" business model. What gets me is: What is keeping this company's stock price propped up?
Sentiment: Strong Sell
Btw, the low quality fabric issue alone leading to all those returns appears to be damaging their bottom line and now it looks like female customers in particular (their primary demographic) are boycotting them, so money seems to be walking straight out the door all over the US and Canada and heading towards any number of competitors who are not seen as so insensitive to their customer base. So not only will this too negatively impact their earnings picture, but they're going to have to spend a considerable amount of money to try to turn things around, win back former customers and/or win new customers. That's always a much more expensive proposition than keeping current customers happy. Really bad move, and unfortunately for them pretty much impossible put the genie back in the social media bottle.
Agreed. I've actually been surprised to see just how many places Wilson's interview is popping up and in the comments section of almost every single one of them you will find a chorus of disgruntled customers sharing their negative opinions about the brand.
Here are couple more from today getting "likes" on their FB page:
"I think you're about to see your over-priced spandex empire do a downward facing dog. I certainly won't step foot in one of your stores again. Worst corporate attitude ever."
"Dear Founder of Lululemon: Good luck getting yourself back in the good graces of all of the women (in many shapes and sizes) who have been paying your salary."
Yeah, Twitter is exploding with rants about Chip Wilson's comments. Lots of tweets from women with huge numbers of followers and significant cultural influence. This along with the sheer pants and pilling fabric issues is doing major damage to the brand. Consumers are starting to associate Lulu with poor quality products and their meathead CEO's insensitivity. It's been all over ABC, CBS, the Today Show, NPR and all the major papers.