Lululemon Athletica Says Have Made Decision To Close One Of Co's Smaller Distribution Centers Located In Sumner, Washington At The End Of 2024; Optimization Will Result In Reduction Of Just Over 100 Positions Within Existing Sumner Distribution Center; Some Employees Will Be Retained And Will Be Relocated To Other Facilities, Including Distribution Center In Greater Los Angeles Area
Portfolio Pulse from Benzinga Newsdesk
Lululemon Athletica plans to close a smaller distribution center in Sumner, Washington by the end of 2024, leading to a reduction of just over 100 positions. Some employees will be retained and relocated to other facilities, including a distribution center in the Greater Los Angeles area.
April 19, 2024 | 6:18 pm
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Lululemon's decision to close its Sumner, WA distribution center by 2024 will lead to over 100 job cuts, with some employees being relocated.
The closure of a smaller distribution center is part of Lululemon's optimization strategy, which may have a neutral short-term impact on the stock. The company's effort to retain and relocate some employees could mitigate negative perceptions, balancing the impact on the stock.
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