lululemon athletica (NASDAQ: LULU) is making changes to its short-term spending plan in response to sharp demand declines in recent weeks. Yet the management team says they have what they need to navigate through the disruption to its retailing operations caused by the COVID-19 pandemic. In a conference call with Wall Street analysts on Thursday evening, CEO Calvin McDonald described a "dramatic" shift in sales volumes as the company closed stores in China, Europe, and the U.S. Most of its Chinese shops are back online now, but other geographies remain closed for business. Image source: Getty Images. In response, Lululemon has curtailed its inventory purchases and reduced capital spending. Management is also reviewing its plans for store openings and remodels. The company believes it has plenty of financial firepower available to weather the coronavirus disruption. It counted $1.1 billion of cash on the books, no long-term debt, and access to a $400 million credit line as major resources. Lululemon noted strength in its digital shopping business, which is still operating and accounted for 29% of all sales in the latest fiscal year. Looking further out, the chain believes its industry will remain a growth niche even after coronavirus fears fade. "We do not believe the current situation will change the trend toward people wanting to live an active and healthy lifestyle," McDonald said. 10 stocks we like better than Lululemon AthleticaWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Lululemon Athletica wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of March 18, 2020 Demitrios Kalogeropoulos has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Lululemon Athletica. The Motley Fool has a disclosure policy.Source