Lululemon Falls Up to 20% After Hours on Lowered Sales, Profit Outlook
LULU Lululemon Athletica Inc
$121.77 +1.42%
View chart & analysis → - 1Lululemon (LULU) shares fell up to 20% in after-hours trading Thursday after the company cut its sales and profit outlook.
- 2Q2 revenue fell 4% to $2.4 billion, with comparable-store sales down 9%; the annual revenue outlook is now $10.35–$10.5 billion (a 5–7% decline).
- 3Ahead of Nike veteran Heidi O'Neill's CEO arrival next week, Morningstar pointed to sales growth as the problem.
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