Lululemon Athletica, an exercise clothing manufacturer, was on target for an 11 percent sales growth this year. And then the bottom fell out -- figuratively speaking.
The company was forced to recall 17 percent of its women's black yoga pants after discovering the cloth was too see-through. Now they're facing a gain of 8 percent at most, CNN reports. In terms of dollars and cents, that means projected sales have fallen from $350 million to $333 million nearly overnight.
"The ingredients, weight and longevity qualities of the pants remain 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," a Lululemon spokesperson said in a written statement.
Regardless, the financial hit is likely only temporary. The company's stock has grown by 1,800 percent within the past four years, CNN reports.
Most Popular Stories
- 2014 Will Be 'Breakthrough Year' for U.S., Obama Says
- Climate Change Isn't an Equal Opportunity Destroyer
- Renewable Energy Group to Acquire Syntroleum
- Ally Financial Settles Auto Loan Suit
- Kanye, Kardashians and Other Kooks: A Wacky, Tacky, Entertaining Year
- Covered California Lags on Hispanic Enrollment
- Luis Suarez Re-ups With Liverpool F.C.
- Chris Christie Set to Sign Tuition Aid Bill
- Little Risk of Deportation Under Obama
- Time No Longer Stands Still for Cuban Entrepreneurs