Lululemon Cuts Annual Forecast After North America Sales Drop

Lululemon lowered its annual revenue and profit forecasts after sales declined in North America. The company attributed the shortfall to softer demand for its apparel. It did not specify the size of the reduction in its outlook.

Only one Wall Street analyst continues to rate the shares as a buy following the revised guidance. The remaining analysts have neutral or sell recommendations. The stock traded lower after the announcement.