ICR is handling media and investor relations for Vancouver-based Lululemon Athletica as the trendy marketer of yoga gear is recalling its "see through" exercise pants.
In its March 18 recall announcement, Luluemon said the quality of its pants remains the same but the "coverage does not, resulting in a level of sheerness in some of our women’s black Luon bottoms that falls short of our very high standards."
The all-too-revealing pants account for about 17 percent of Luluemon’s inventory. It warns customers of a "shortage in our supply of black Luon pants and crops."
CEO Christine Day "regrets any inconvenience this has caused our guests."
The company expects the recall to "have a significant impact on our financial results." It now expects a five-to-eight percent rise in quarterly sales, down from the earlier 11 percent projected sales increase.
The stock price of the NASDAQ-listed company dipped $1.50 today to $64.38.
ICR senior VP Alecia Pulman works the Luluemon business.