Why Lululemon Stock Crashed Today
Yahoo Finance ·
Shares of Lululemon Athletica ( LULU -17.38% ) plummeted on Friday after the athletic clothing maker slashed its full-year profit forecast. Lululemon's net revenue declined 4% year over year to $2.4 billion in its fiscal second quarter, which ended on Aug. 2. The retailer opened 11 new company-operated stores and closed two during the quarter, bringing its total to 825 locations. Yet its comparable sales, which measure revenue at stores and direct-to-consumer e-commerce sites open for at least a year, fell 9%.
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