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Lululemon lowered its full-year revenue outlook to $10.35B–$10.50B from $11B–$11.15B, and reduced full-year earnings guidance to $9.48–$9.73 per share from $10.95–$11.15. Shares fell 18.2% to $99.65 after hours.
Lululemon reported second-quarter revenue of $2.4 billion, down 4% year over year, and lowered full-year revenue guidance to $10.35 billion-$10.5 billion, citing softer sales trends and inconsistent product launch performance.