Lululemon's Shares Plunge as Yoga Apparel Retailer Cuts Outlook

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Lululemon's Shares Plunge as Yoga Apparel Retailer Cuts Outlook

Lululemon's Shares Plunge as Yoga Apparel Retailer Cuts Outlook
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Lululemon's Shares Plunge as Yoga Apparel Retailer Cuts Outlook

by TheStreet 1:12 mins

Lululemon's Shares Plunge as Yoga Apparel Retailer Cuts Outlook

by TheStreet 1:12 mins

Lululemon shares are moving downward following its latest earnings report. The Vancouver-based company lowered its outlook for the second quarter and fiscal year. The yoga apparel retailer is still struggling to regain its luster after the Luon pant recall more than a year ago. Earnings came in at 34 cents a share compared to 32 cents a share in the year-earlier quarter. They did have a one-time charge for the repatriation of foreign earnings which took 21-cents a share out of the results. Sales climbed 11% to $385 million exceeding estimates. Following the replacement of CEO Christine Day with Laurent Potdevin in December, Lululemon CFO John Currie said today that he would retire from the company at the end of its fiscal year.

TheStreet