Lululemon shares plunge as earnings guidance falls well short of estimates

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Lululemon

shares plunged in extended trading Thursday after the company gave a much worse than expected full-year outlook.

The company topped second-quarter earnings estimates but slightly missed revenue expectations. But it said it expected tariffs to hit its full-year profits by $240 million.

Lululemon said it expects full fiscal year earnings of $12.77 to $12.97 per share, well below Wall Street estimates of $14.45 per share. It also anticipates full-year revenue of $10.85 billion to $11 billion, compared with Wall Street expectations of $11.18 billion.