Despite strong performance, Wall Street isn’t impressed with Lululemon
September 2, 2016
For most of the year, Lulemon — riding the growing “athleisure” wave — has been a Wall Street darling, with its share price soaring 46 percent year-to-date during a period when Nike and Under Armour stock prices slipped. But Lululemon, after reporting a strong 14 percent gain in fiscal second-quarter sales this week and a rise in total comp store sales of 5 percent, watched its stock slump 7 percent in after-hours trading yesterday. The reason: the Canadian company had projected fiscal third-quarter earnings of $535 million to $545 million at 42 cents to 44 cents per share, but the performance failed to meet Wall Street’s expectations of $542 million and 44 cents, respectively.
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