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North Face founder Doug Tompkins dies
Doug Tompkins, the founder of the North Face and Esprit apparel companies, died Tuesday in a kayaking accident in Chile. He was 72.
Tompkins was boating with others on a lake in Chile when his kayak capsized. Tompkins was rescued but spent a lengthy amount of time in the freezing water. He died of hypothermia in a hospital in Coyhaique.
Tompkins founded The North Face in 1964 as an outdoor outfitter and in 1968 he co-founded Esprit clothing, which would grow to do a billion dollars in sales.
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The athleisure trend is becoming a problem for Lululemon
While athleisure apparel is still quite trendy these days, the creator of the trend, Lululemon Athletica, is struggling to grow profits as competitors threaten its value proposition.
For the third quarter ended Nov. 1, the company posted a profit of $53.2 million, or 38 cents a share, down from $60.5 million, or 42 cents a share, a year earlier. Revenue rose 14% to $479.8 million. Same store sales rose 6% for the second quarter in a row on a constant-currency basis.

