Lululemon Athletica (NASDAQ:LULU) shares sank more than 17% Friday after the athletic apparel retailer cut its full-year guidance, overshadowing a stronger-than-expected second-quarter profit.
For the quarter ended July 28, EPS was $3.10, topping consensus of $2.87. Revenue was $2.53 billion, narrowly missing estimates of $2.54 billion.
For Q3, Lululemon projected EPS of $2.18–$2.23 and revenue of $2.47–$2.50 billion, both below estimates of $2.90 and $2.56 billion. For FY25, earnings guidance was reduced to $12.77–$12.97 per share from $14.58–$14.78, compared with consensus of $14.61. Revenue was forecast at $10.85–$11.0 billion, down from prior guidance of $11.15–$11.30 billion and below consensus of $11.2 billion.
