Lululemon Athletica Inc.’s CEO says he is not happy with the clothing retailer's latest results, as it faces softer consumer demand and tariff headwinds, coupled with the removal of the de minimis exemption for small U.S.-bound shipments.

"We are not satisfied with the results for the quarter, and we know our brand can and will perform better than these results," Calvin McDonald told an earnings call Thursday.

The company reported net income of US$370.9 million during its second quarter, down from US$392.9 million a year earlier. The profit amounted to earnings per diluted share of US$3.10 compared with US$3.15 during the same period last year.

In its updated guidance for 2025, the company noted an estimated reduction in gross profit, reflecting the impact of tariffs and the removal of

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