Lululemon Athletica Inc. slumped to the lowest level in three years after the yogawear retailer cut its full-year earnings forecast as it looks to expand into international markets and recover from a product recall.
Product recall notices are a fact of life for consumer-product makers. Dysfunctional hinges trap tiny fingers; undesirable fluids leak into foodstuffs; and sticky accelerator pedals send cars zooming in mysterious ways, forcing manufacturers into costly withdrawals.
New Zealand’s Fonterra Cooperative Group Ltd, the world’s biggest dairy exporter, will appoint a food safety director and strengthen product recall systems after a contamination scare dented the company’s reputation in China.
Apple Inc. ’s senior antenna expert voiced concern to Chief Executive Officer Steve Jobs in the early design phase of the iPhone 4 that the antenna design could lead to dropped calls, a person familiar with the matter said.
St. Jude Medical Inc., a maker of heart rhythm devices, fell the most in five weeks after the company said its 2012 outlook is worsening as a product recall crimps sales and a stronger dollar erodes overseas profit.