Lululemon Shares Drop Premarket as U.S. Weakness Persists
Lululemon Athletica shares dropped nearly 12% premarket Friday after the company lowered its yearly profit outlook and projected second-quarter earnings well under what analysts expected, raising more questions about its North American recovery. Shares last finished at $124.92. Reuters reported the premarket fall would wipe out over $1.7 billion in market value if it lasts.