Lululemon Shares Tumble After Forecast Disappoints Investors
- Foot-traffic trends heading into holidays raise concerns
- Stock had been up 46 percent this year before the plunge
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Lululemon Athletica Inc. fell the most in almost nine months after its forecast missed some estimates, sparking concern about slowing demand and competition in athletic apparel.
Foot traffic was sluggish last quarter, a sign that shoppers are skipping trips to the mall. Lululemon also is facing mounting competition in the yogawear market, with Nike Inc. and other rivals pushing deeper into the category.