Canada’s Lululemon Athletica (LULU) is cutting 150 corporate jobs as its restructures amid ongoing challenges caused by tariffs and a slowdown in consumers spending.
The athletic apparel retailer said the impacted employees are part of its store support centers.
The job cuts come as Lululemon reels from U.S. President Donald Trump’s import tariffs that have hurt the company’s supply chains and Asian manufacturing base.
Lululemon’s financial results have taken a hit in recent quarters from not only tariffs but declining sales in the key market of China.
The company says it is also dealing with consumers pulling back on their discretionary spending amid signs of an economic slowdown in the U.S. and Canada.
In its most recent financial results, Lululemon said it planned price increases as it deals with the ongoing impacts of U.S. tariffs, passing along the added costs to customers.
The Vancouver-based retailer also lowered its profit expectations for this year.
Management said they now expect earnings per share (EPS) of $14.58 U.S. to $14.78 U.S. for all of 2025, down from previous earnings guidance of $14.95 U.S. to $15.15 U.S.
The lowered guidance has weighed on Lululemon’s stock, sending it down 29% in the last month alone.
Year-to-date, LULU stock has declined 40% to trade at $228.65 U.S. per share.
