Lululemon Stock Plunges Nearly 20% Following Another Disappointing Quarter

Lululemon stock was down about 18% in morning trading following the issuance of a quarterly report which was disappointing. The company also slashed its guidance for the year as a result. A 4% fall in revenue and a 9% comp sales decrease were just some of the headline figures. “While we are seeing good guest reaction to our activations and some of our newer styles, the overall response to our product launches remains inconsistent, and we’ve continued to see pressure on the brand in both of our largest markets,” interim CEO Meghan Frank said.