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Shares of specialty apparel retailer Lululemon sank to their lowest levels in more than three years after it slashed its full-year earnings forecast.
Shares of specialty apparel retailer Lululemon sank to their lowest levels in more than three years after it slashed its full-year earnings forecast.
(Lindsay Lauckner For The Globe and Mail)

Breathe deeply, Lululemon, it’s time to stretch in a new direction

Of all the stumbles by Lululemon Athletica Inc. in the past year or so – and there have been plenty – there is only one that the market can’t forgive: It stopped growing.

On Thursday, the yoga-pant retailer’s once high-flying shares nosedived to their lowest levels in more than three years after it slashed its full-year earnings forecast. Profits now look certain to shrink for the first time in company history; sales, on a comparable basis, are expected to see percentage growth “in the low single digits,” the company said.