Consumer
Lululemon Sinks 15% on Slower US Store Traffic, Weaker Outlook
- Yogawear maker’s shares decline the most since 2020 on Friday
- Analysts flag disappointing sales guidance for the full year
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Lululemon Athletica Inc. slumped the most since the start of the pandemic after reporting a slowdown in its US business and lower-than-expected outlooks for the first quarter and full year.
The shares fell as much as 15% in New York trading Friday — the biggest decline since March 2020. The stock has slipped 6.3% so far this year through Thursday’s close, compared with a 9.9% gain for the S&P 500 Index.