Overview

• Lululemon posted $2.37 billion in first-quarter revenue, up 7.3% year over year, and delivered $2.60 in earnings per share, surpassing analyst expectations.
• The company trimmed its full-year EPS outlook to a range of $14.58–$14.78 from prior guidance of $14.95–$15.15, citing a dynamic macroenvironment.
• Shares tumbled about 20% in after-hours trading as investors reacted to the reduced profit forecast.
• CEO Calvin McDonald warned that U.S. consumers are increasingly cautious and deliberate in their purchasing decisions.
• International net revenue rose 19% with comparable sales up 6% while Americas comparable sales declined 2%.