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Lululemon said it would close nearly all of its 55 Ivivva stores, but continue to sell the brand online. Altogether, Lululemon had 411 outlets at the end of the first quarter. The shift is part of a broader strategy to boost online sales at Lululemon, which like most traditional retailers is looking to the internet to offset business declines at its physical stores. "We've doubled down on our digital strategy," Potdevin said on an analyst call, adding that he believed online sales had the potential to reach more than a billion dollars. The company forecast full-year net revenue of $2.53 billion to $2.58 billion, below its previous guidance of $2.55 billion to $2.6 billion. The leaner Ivivva will bring in annual revenue of "a little less than half" of what it posted last year, Chief Financial Officer Stuart Haselden said on the call. He said he expected the restructured business to post a "modest" operating profit. Excluding the impact of restructuring, Lululemon forecast full-year diluted earnings per share of $2.28 to $2.38. That range is 2 cents above the company's previous forecast.
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REUTERS/Philippe Wojazer French President Emmanuel Macron and his wife Brigitte Trogneux (C) leave their home on bicycles in Le Touquet, France, on the eve of the first round of the parliamentary election, June 10, 2017. REUTERS/Philippe Wojazer French President Emmanuel Macron arrives at his home on bicycle in Le Touquet, on the eve of the first round of the parliamentary election, France June 10, 2017. REUTERS/Philippe Wojazer French President Emmanuel Macron's wife Brigitte Trogneux leaves her home on bicycle in Le Touquet, France, on the eve of the first round of the parliamentary election, June 10, 2017. REUTERS/Philippe Wojazer PARIS French voters cast their ballots on Sunday in the first round of a parliamentary election expected to give centrist President Emmanuel Macron the strong majority needed to carry out the far-reaching economic and social reforms he promises. The vote to elect the lower house's 577 members comes a month after Macron, a 39-year-old former banker with little political experience, defied the odds to win the presidency of the euro zone's second-largest economy. If, as polls project, Macron and his fledgling party win a commanding majority in next week's second round, it will be another blow for the mainstream parties on the right and left which failed to get a candidate into the presidential run-off. "We want a big majority to be able to act and transform France over the next five years," Mounir Mahjoubi, a tech entrepreneur running under Macron's Republic On The Move (LREM) banner told Reuters as he canvassed support in his northern Paris constituency ahead of the vote. Opinion polls forecast LREM and its center-right Modem allies will win at least 30 percent of votes on Sunday. The conservative The Republicans party and its allies trail with about 20 percent, ahead of the far-right National Front on about 17 percent.
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