Lululemon Athletica rises on U.S. launch of resale program

ThredUp

12/04/2022 17:36

** Shares in yoga pants maker  LULU.O  rise 5.1% to $387.50
    ** LULU says its "Like New" resale program will be available
across the United States from April 22, following a test in
Texas and California last year  urn:newsml:reuters.com:*:nBw6P5tPna
    ** Shoppers can trade in pre-used Lululemon clothing
including pants, tops, shorts and jackets in exchange for a gift
card at any of the more than 390 U.S. stores in the program and
shop resale products online - LULU
    ** Most apparel chains including American Eagle Outfitters
 AEO.N , Levi Strauss  LEVI.N , Gap  GPS.N , Nike  NKE.N  and
Under Armour  UAA.N  rise around 2% each as data showed consumer
prices rose largely in line with estimates  .N 
    ** Secondhand apparel seller ThredUp  TDUP.O  in its 2021
report https://www.thredup.com/resale/static/thredUP-Resale-and-Impact-Report-2021-980436a36adc4f84a26675c1fcf2c554.pdf
 forecast used clothing sales to reach $77 billion by 2025, more
than double the 2021 levels
    ** LULU says it will use profits from the program to support
its plans to improve sustainability in production
    ** Shares have fallen 1% this year, after rising over 12%
last year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))