Retail watch: Unionization push reaches Lululemon for the first time
Lululemon Athletica Inc. (NASDAQ:LULU) is the latest company in the retail sector to feel some pressure from unionization.
A group of workers in Washington D.C. filed a petition with the National Labor Relations Board to hold an unionization vote. The proposed bargaining unit would only cover 33 employees.
The athletic apparel powerhouse can negotiate with the workers or battle in court over a potential union vote.
Union pushes have been seen this year at Starbucks (SBUX), Chipotle (CMG), Kellogg (K), Trader Joe's, Amazon (AMZN) and New York Times (NYT) The slow pace of unionization has meant that shares price reactions for companies involved have been minimal so far to the latest developments. Analysts have indicated the impact may start to factor in with 2023 earnings forecasts for certain chains.
Earlier on Thursday, Lululemon (LULU) attracted a new bull rating from KeyBanc Capital Markets.