Lululemon Athletica Inc. (NASDAQ:LULU) stock plunged on Friday, down by 8%, after the athletic apparel retailer reported mixed first-quarter results, issued second-quarter guidance well below Wall Street expectations, and lowered its full-year outlook on Thursday.
Earnings Snapshot
Lululemon reported first-quarter revenue of $2.47 billion, up 4% from a year earlier and ahead of analysts' estimates of $2.43 billion. On a constant-currency basis, revenue increased 2%.
Adjusted earnings came in at $1.69 per share, narrowly missing consensus estimates of $1.70 per share.
For the second quarter, Lululemon expects revenue of $2.45 billion to $2.48 billion, below analyst estimates of $2.60 billion. The company forecasts earnings of $1.76 to $1.81 per share, compared with consensus estimates of $2.71 per share.
