Lululemon Athletica Inc. (NASDAQ:LULU) shares plummeted over 11% in after-hours trading, crashing to their lowest price since 2018 after slashing full-year guidance due to softening traffic and product missteps.
Guidance Cut Triggers Technical Meltdown
Something went wrong.
The athletic apparel giant reported first-quarter revenue of $2.47 billion, slightly beating consensus estimates, but narrowly missed earnings expectations at $1.69 per share.
However, the sell-off intensified after management significantly lowered its second-quarter and full-year outlook.
