Shares of Lululemon plunged on Friday after the athletic apparel retailer issued disappointing guidance and said it’s seeing soft sales in the U.S., its largest market.
The retailer reported holiday earnings on Thursday evening that topped expectations, but showed that its growth in North America is stagnating.
Here’s how the company did in its fourth fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv:
- Earnings per share: $5.29 vs. $5.00 expected
- Revenue: $3.21 billion vs. $3.19 billion expected
The company’s reported net income for the three-month period that ended Jan. 28 was $669.5 million, or $5.29 per share, compared with $119.8 million, or 94 cents per share, a year earlier.Â
Sales rose to $3.21 billion, up about 16% from $2.77 billion a year earlier.
Shares of Lululemon closed about 16% lower Friday. As…
