Lululemon Shares Tumble 20% on Weak Q2 Outlook, Slashed Profit Forecast
TMTPOST -- Lululemon (LULU) shares sank as much as 20% in after-hours trading Thursday after the athletic apparel brand issued a weaker-than-expected forecast for its second quarter, citing a “dynamic macro-environment.”
The company now expects adjusted earnings per share of $2.85 to $2.90 for the quarter, well below Wall Street’s consensus estimate of $3.31. It also lowered its full-year EPS guidance to a range of $14.58 to $14.78, down from its prior projection of $14.95 to $15.15.
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