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Athleisure giant to open smaller store model
Lululemon Athletica Inc. revealed that it plans to open smaller, “local” stores amid results that disappointed Wall Street. Net revenue for the quarter ended July 31 increased 14% to $514.5 million, just shy of projections, from $453.0 million in the year ago period. Total comparable sales rose 4%, with in-store sales up 3% and direct to consumer sales up 6%. Net income increased 12.5% to $53.6 million.
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Don’t Ignore These Holiday Security Issues
In the lead-up to this year’s holiday season, retailers across the country are already making important preparations in the hopes of increasing sales, improving customer service, and preventing data breaches. This last concern carries with it a heavy price tag; according to a survey from the Ponemon Institute, the average cost of holiday season cyber attacks is $8,000 per minute or nearly half-a-million dollars per hour.
