Shoppers visited Lululemon's (LULU) stores and website in the second quarter🌸. When they got there, though, they didn’t see enough new stuff to buy. 

That’s according to executives at the apparel company, which on Thursday reported second-quarter financial results that included a 3% drop in U.S. comparable-store sales and 1% growth in U.S. revenue. 

Executives call the phenomenon “newness,” and it particularly affected women who hoped for more seasonal updates to “color, print, p𒊎atterns and silhouettes” in some product categories, CEO Calvin McDonald said on a 💞conference call with analysts, a transcript of which was provided by AlphaSense. 

“It's become clear to us that this reduced newness, which is below our historical level, and stems from earlier product decisions, has impacted conversion rates, given the fewer new options available to our female guests,” McDonald said. “The newness that we had performed well. We simply did not have enough to inspire her to purchase.”

Shoppers Not Finding What They Want

McDonald said the company is working to refresh its lineup “as quickly as possible,” citing as examples leggings, shorts and tracksuits. The missed opportunity, he said, came as shoppers❀ continued to visit Lululemon channels but didn’t find what they wanted. “They were there with intent to spend,” he said. 

“We are optimistic that we will begin to see the benefits of these strategies over the upcoming quarters and return to our historical levels of newness no later than spriꦗng 2025,” he said. 

澳洲幸运5官方开奖结果体彩网:Shares of Lululemon were down about 1% in early afternoon trading after rising aꦚs much as 4% in the opening minutes of Friday's se𝔍ssion.

The stock has had a rough year, losing nearly half its value.