A take on business from Times Square
Sponsored by NYC News Service and CUNY Newmark J-School
Reporter
When the pandemic hit in March 2020, Rhea Choi, a freelance digital marketer based in New York City, went into survival mode and stocked up on whatever food and toilet paper she could find in large supermarkets.
Anne Howard, a mother of two teenage daughters in San Francisco, said she was a loyal Lululemon customer and enjoyed shopping at a store near her home.
Lululemon on Dec.10 reported $1.1 billion in sales in its third quarter, which ended Nov.1.
With the pandemic upending the fitness industry, Lululemon bought Mirror, a home workout startup, at just the right time.
While many retailers are cutting back or even going out of business in the pandemic’s economic downturn, Lululemon Athletica is the rare exception with plans to open 30 to 35 new stores by the end of 2020.
Big technology stocks have had three rough weeks, triggering the tech collapse of 2000. But as the pandemic drags on, analysts are optimistic.
About the Journal
The Times Square Investment Journal covers companies, markets and personal finance from a newsroom in the heart of Manhattan. The Journal is sponsored by the NYC News Service and the Craig Newmark Graduate School of Journalism at CUNY.
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