Why Lululemon Athletica Plunged Today
Shares of Lululemon Athletica (NASDAQ: LULU) plunged on Friday, falling 14.3% as of 11:45 a.m. ET.Lululemon reported fiscal fourth-quarter earnings last night, and while last quarter's results beat expectations, its guidance disappointed Wall Street. Moreover, the company's CEO mentioned it has seen signs of a cautious consumer, feeding today's worries over tariffs and a spending pullback in U.S. consumers. In the fiscal fourth quarter ended on Feb. 2, Lululemon reported $3.6 billion in revenue, up 13%, with earnings per share up 16% to $6.14. Both figures came in ahead of expectations.Continue reading
Shares of Lululemon Athletica (NASDAQ: LULU) plunged on Friday, falling 14.3% as of 11:45 a.m. ET.
Lululemon reported fiscal fourth-quarter earnings last night, and while last quarter's results beat expectations, its guidance disappointed Wall Street. Moreover, the company's CEO mentioned it has seen signs of a cautious consumer, feeding today's worries over tariffs and a spending pullback in U.S. consumers.
In the fiscal fourth quarter ended on Feb. 2, Lululemon reported $3.6 billion in revenue, up 13%, with earnings per share up 16% to $6.14. Both figures came in ahead of expectations.
