Get it?
Downward dog...
because its going down?
Pretty good right?
<sips coffee and leans back to await all the karma from this post>
Investors bolt from Lululemon as momentum comes to a screeching halt
Athletic apparel sits on display inside a Lululemon Athletica store. Lululemon's earnings miss
3 Hours Ago | 03:07Shares of Luluemon have cratered as quickly as its sales momentum.
The Canadian retailer's stock tumbled more than 20 percent Thursday, hours after the athletic wear maker warned its fiscal first quarter has gotten off to a slow start amid a sea of drab clothes.
Specifically, weak store traffic and fewer online purchases are setting the chain up for its first quarterly comparable sales decline since the recession.
The news was an abrupt pivot from its fourth-quarter performance, when both sales and earnings posted double-digit gains. At least four analysts Thursday downgraded the company's shares, citing concerns about its about-face.
Lululemon's warning added to concerns about a slowdown in the athletic apparel market, which has also been seen in recent results at Under Armour and Nike.
- CNBC
Submitted March 30, 2017 at 09:49AM by StockJock-e http://ift.tt/2mSN1oi
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