Shares of Lululemon Athletica Inc. fell more than 15 percent in morning trading as the Vancouver-based marketer of yoga and active apparel lowered its fourth-quarter sales and earnings guidance based on a weak start in January.
Shares declined $9.10, or 15.3 percent, to $50.50 in the first two hours of Nasdaq trading Monday.
Fourth-quarter earnings guidance was pulled down to between 71 and 73 cents a diluted share from earlier forecasts of between 78 and 80 cents. Revenues, originally expected to come in at between $535 million and $540 million, are now projected to end the period at $513 million to $518 million, with same-store sales now expected to be down in the low- to mid-single-digits versus an earlier expectation of a flat quarter.
Peter Kim's Los Angeles-based premium denim line has always had its finger on the pulse of youth. This season, novelty is back in a way reminiscent of early Aughts, with studs, lace-ups, racing waxed denim and more. For more highlights if some of the key brands at the Vegas trade shows, go to WWD.com. #wwdfashion (📷: Patrick Gray; Styles by @thealexbadia; Story by @karihamanaka and @marcy_wwd)
"I was driving back on Saturday afternoon from the beach, and I just saw this sign saying 'Skydiving for $95.' And I was like, I can't not sky dive for $95," says Tom Bateman about a moment in Hawaii while shooting "Snatched." #wwdeye (📷: @vsteves; Interview by @ktauer; Styled by @thealexbadia)