Lululemon Tumbles After Cutting Forecast

Lululemon Athletica Inc. slumped to the lowest level in three years after the yogawear retailer cut its full-year earnings forecast as it looks to expand into international markets and recover from a product recall.

The shares plunged 16 percent to $37.25 at the close of trading New York time, the lowest since March 2011. They have declined 37 percent so far this year.