Lululemon Athletica falls after lowering annual sales, profit forecasts
Shares of athletic wear maker Lululemon Athletica LULU.O fall 13.8% to $177.85 in extended trading
Company expects 2025 net revenue to be in the range of $10.85 billion to $11 billion, compared with its prior forecast of $11.15 billion to $11.30 billion
LULU lowers 2025 earnings forecast to between $12.77 and $12.97 per share, from $14.58 to $14.78 per share projected previously
*"We believe guidance cuts continue and will become more severe through the end of the fiscal year" - Jefferies analysts
Company says the forecast for 2025 includes an estimated reduction in gross profit of about $240 million
Reports Q2 net revenue of $2.53 billion, largely in line with analysts' expectations, according to data compiled by LSEG
"We are also navigating industry-wide challenges, including higher tariff rates" - CEO Meghan Frank
Up till last close, shares down 46% YTD
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