Lululemon Falls Most Since 2008 on Sales Miss |
| Bloomberg - Dec 1, 2011 |
Lululemon Athletica Inc. (LULU), the Canadian yoga-wear retailer, fell the most in almost three years after third-quarter sales trailed analysts’ estimates.
Lululemon declined 11 percent to $44.01 at 11:23 a.m. in New York after touching $41.70 for the biggest intraday decline since Dec. 11, 2008. The shares had risen 45 percent this year before today.
Revenue increased 31 percent to $230.2 million, the Vancouver-based company said in a statement today. Analysts had predicted $235.3 million, according to the average of estimates compiled by Bloomberg.
Lululemon has struggled to maintain consistent inventories, leaving customers wanting for some of the company’s most popular brands this quarter, Liz Dunn, a senior analyst for Macquarie Group Ltd. in New York, said today in an interview. The retailer also was renovating some major stores, which depressed sales below some analysts’ expectations.
Read Full Article from Bloomberg
- Posted: 2011-12-01 13:01:14
| More Stock Investor Place Company News |
 |
|
|
|
| Stock Investor Place Company News Archive |
|
|
|
