Shoppers are souring on Lululemon — and the once-thriving yoga chain is meanwhile getting squeezed by new rivals.
The pricey retailer known for its $100 leggings has been discounting at “alarming rates” — even as it has been losing customers to competitors, according to new research from investment bank Jefferies.
At one location ahead of the July 4 weekend, a slim-fit skirt was marked down to $49 from $78 while a pair of jogger pants were marked down to $89 from $128.
Lululemon was known for being stingy with discounted apparel, but that’s changing now. SOPA Images/LightRocket via Getty Images
A windproof golf vest was marked down to $79 from $128, according to a July 2 Jefferies report.
The discounting is striking for a retailer that traditionally sold most of its merchandise at full price, Craig Johnson, president of Customer Growth Partners told The Post.
“Historically 95% of their