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Athletic apparel company Lululemon Athletica
Inc. said Friday that it remains confident in the long-term
opportunities in China, despite the current disruption to its growing
business in the region due to the coronavirus outbreak.
In the update on the outbreak, the company said it continues to work
closely with local authorities to prioritize the safety of its people
and guests in the region.
The majority of lululemon’s 38 stores in China have been closed since
February 3, while some are now operating on a reduced schedule. The
company’s online business has continued to operate.
Calvin McDonald, Chief Executive Officer, said, “We’re inspired by
the resilience and commitment of our team in China as we navigate the
emerging impacts of the coronavirus. The safety of our people is our
highest priority, and we are adjusting store operations based upon
the recommendations of local authorities.”
The company said it continues to monitor the situation and will
provide an update on the financial and operational impact on its
fourth quarter fiscal 2019 earnings call, to be held in late March. (dpa)
