Looks like there’s something to be said for quitting…from the board that is. Since founder and former CEO Chip Wilson sort of graciously stepped down from the Lululemon board, the yoga apparel-making company seems to be turning over a new fiscal leaf. The company managed to beat the street following several quarters that had the company reeling from design-flawed see-through yoga pants, not to mention, some very un-zen-like comments from Mr. Wilson. This quarter, Lululemon pulled in revenues of $423.5 million, a nice little increase from last year’s $418.6 million when the company seemed to be in the midst of all its issues. The company also managed to score $47.8 million in profits with 34 cents per share added, beating estimates by one cent. That profit was almost three times what Lululemon Athletica pulled down last year at this time, again, when it was dealing with all its troubles. And bonus, the company even raised its outlook predicting it will earn between $1.86 – $1.91 per share from a previously estimated from $1.85 to $1.90. In keeping with Wall Street tradition, shares of the stock went up on the news of the earnings beat.
But can I get an upgrade with it?
You may not be earning any miles with it, but it’ll definitely be the coolest item in your wallet. I am talking about Sir Richard Branson’s latest offering from Virgin Money – a credit card that features the Sex Pistols on it. Slapping the Sex Pistols on plastic was no accident either. It was Branson who signed the group to his label, Virgin Records, back in 1977. So clearly there’s a bias towards the band. Led by Sid Vicious and Johnny Rotten, the band was arguably one of the most influential punk rock bands – that is until they broke up a year later. The Sex Pistols seem like a good fit for a credit card that wants to market itself to consumers as a way ” to put a little bit of rebellion in their pocket.” However, to my untrained ear, that sounds like it has the words “debt” and “collections” written all over it. But hey, whatever works. Bonus: if your card gets declined, imagine how cool you’ll look as you embarrassingly sneak the card back into your wallet. Okay, maybe not.
Is it mmm mmm good?
Campbell Soup may indeed be “good food” but apparently hummus and salsa is even better these days. The iconic soup maker announced plans to buy fresh food company Garden Fresh Gourmet for $231 million. Garden Fresh Gourmet scored $100 million in sales for 2014 so clearly there’s something to be said for fresher fare. Campbell Soup,which also owns Prego sauces and Pepperidge Farm cookies, has been noticing, fiscally speaking, that consumers aren’t as interested in its canned soups and other offerings that sport a lengthy shelf life. So it’s been trying to shift gears towards trendier, money-earning items like fresh(er) food and the ever popular organic category. Of course, the company is also hoping it will reel in that ever elusive group we call millennials who seem to be dictating many food trends in the last few years.