By  on January 13, 2014

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.

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