Lululemon Shares Drop Again as U.S. Sales Slowdown Stalls Recovery Moves
Lululemon Athletica shares lost 2.52% Friday, finishing at $118.77. That move came as the S&P 500 added 0.50% and the Dow gained 0.70%. Shares are now down 52.91% from the 52-week high of $252.24 hit on July 2. Volume trailed the average at 2.8 million shares, MarketWatch data show. Lululemon shares slid again as the company came off a rough patch after investors reacted to its first-quarter numbers and a soft full-year outlook. The athleisure retailer posted Q1 revenue of $2.5 billion, up 4%, or 2% when adjusting for currency. Comparable sales gained 1% but slipped 2% on a constant-dollar basis. Diluted EPS landed at $1.69, down from $2.60 a year ago, with gross margin dropping 410 basis points to
