Lululemon plunges after cutting outlook again, results show fading momentum
Lululemon shares fell 20% after the retailer cut its outlook for the second time this year. Jefferies said its view that 2Q results wouldn’t move the needle was premature, citing fading brand momentum and mounting market share losses.
Jefferies had been expecting that Lululemon's 2Q results wouldn't move the needle much. "We spoke too soon," they say.
Lululemon plunges 20% after the retailer cut its outlook for the second time this year.
The latest results show brand momentum continuing to fade, market share losses mounting and…