Bitcoin sets a new all-time high above $6,000 >>> READ MORE

Lululemon Shares Fall on Q4 Guidance

Earnings met analysts' forecasts, but revenues will miss


Investors hammered shares of Lululemon Athletica (NASDAQ:LULU) after it announced fourth-quarter revenue estimates that were lower than Wall Street expected.

Lululemon shares dropped more than 6% in Tuesday morning trading.

5 Fashion and Apparel Stocks to Buy Now
5 Fashion and Apparel Stocks to Buy Now

The yoga apparel retailer said it expects fourth-quarter revenue to be near the top of its previously issued estimate of between $475 million and $480 million. That fell short of the $489 million in revenue that analysts had hoped to see, Bloomberg noted.

The company also predicted a fourth-quarter profit of 74 cents per share, which exceeded its earlier forecast by a penny and met Wall Street expectations.

Lululemon shares had surged 63% last year. The fourth quarter, which includes the holiday shopping season, produces the retailer’s best revenues.

Shares of Lululemon fell sharply in early December after it posted third-quarter revenue that rose 31% over the same period in 2011 and earnings that doubled from the previous year, but still fell short of the inflated estimates of Wall Street analysts.

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC