Wall Street analysts peppered Lululemon Athletica executives Thursday with questions about how the yoga wear retailer is handling a recall of women’s pants for being too transparent.
Lululemon said Monday that some shipments of its black Luon pants were too sheer and didn’t meet its standards.
The shortage will reduce full-year earnings by as much as 27 cents a share, Lululemon said.
Analysts asked CEO Christine Day how the pants made it out of the factory in the first place.
“The truth of the matter is the only way you can actually test for the issue is to put the pants on and bend over,” Day said.
HP goes 3-D
Researchers at Hewlett-Packard said they have developed a way to put glasses-free 3-D video on mobile devices with a wide enough viewing angle to allow viewers to see objects more fully just by tilting the screen.
Glasses-free 3-D in itself is not unique, but HP’s researchers have found a way to make images viewable from angles up to 45 degrees from center in any direction: up, down, side to side or diagonally.
More than 200 Wal-Mart stores are testing a smartphone checkout program that allows shoppers to scan bar-coded items with their smartphones and pay at self-checkout terminals.
The program began last year in 70 stores.
U.S. sales of previously occupied homes rose in February to their fastest pace in more than three years, and more people put their homes on the market.
The National Association of Realtors said sales increased 0.8 percent in February from January to a seasonally adjusted annual rate of 4.98 million. That was the fastest sales pace since November 2009.
Average U.S. rates on fixed mortgages fell this week and remained near historic lows, a trend that has supported a recovery in housing.
Freddie Mac said the average rate for the 30-year loan fell to 3.54 percent from 3.63 percent last week.
The average rate on the 15-year fixed mortgage slipped to 2.72 percent from 2.79 percent last week.
Freddie Mac and its regulator must do more to ensure loan servicers properly respond to complaints over handling of mortgages held or guaranteed by the U.S.-owned company, according to a government watchdog’s audit report.
Servicers who collect payments and deal with borrowers for Freddie Mac failed to implement Federal Housing Finance Agency guidelines for escalated complaints, the FHFA’s Office of Inspector General said in the report.
| Star news services