Lululemon sales decline deepens doubts about the company’s recovery
Lululemon Athletica reported a decline in sales in the second quarter and cut its full-year forecast. According to MarketWatch, these results point to the company’s difficulties in its attempts to regain the favor of investors and consumers. The publication links these factors to growing concerns about the company’s recovery process.
New leader
The company released its quarterly results on Thursday, a few days before its new chief executive officer is due to begin work. The article’s subheadline notes that analysts are questioning the fashion assortment of the yoga apparel maker.
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Stock reaction
After the results were released, Lululemon shares fell 16.2% in after-hours trading on Thursday. At the same time, the MarketWatch subheadline referred to a decline of about 15%. Both figures were cited by the publication; the article text specifies the movement in after-hours quotations. This occurred after the company released its quarterly report on Thursday.
