According to Lululemon's second-quarter results released on September 3, revenue fell 4% year-over-year to $2.42 billion while comparable sales declined 9%. The earnings miss triggered a sharp stock selloff, with shares dropping 18% in after-hours trading on September 3 and falling 17.4% during the regular session on September 4 to their lowest level in roughly eight years. New CEO Heidi O'Neill assumed her role on September 8, inheriting the company's second full-year guidance cut in three months. Management now expects full-year revenue of $10.35 billion to $10.50 billion, down 5% to 7%, after originally projecting growth of 2% to 4% in March.
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