$BTC Lululemon plunges 20%!
Can’t sell yoga pants anymore?
The new CEO isn’t taking over a company
but a complete mess😂
Lululemon once made even a pair of yoga pants feel like a luxury product
but this time, the fall really hurts
The stock plunged about 20% at one point on Friday
hitting its lowest level since 2018
The reasons are simple
performance was not good enough, guidance was cut again, and core products are not selling
Lululemon’s second-quarter revenue was approximately $2.42 billion, down 4% year on year
Same-store sales fell 9%
What hurts even more is that sales of its signature l