Reported about 22 hours ago
Lululemon's stock has experienced a significant drop, its worst in over five years, following warnings that tariffs will negatively affect profits. The company has adjusted its full-year earnings forecast downward, facing a decline in store visits and increasing competition. CEO Calvin McDonald expressed concerns over the current retail climate attributed to tariffs, while plans for modest price increases on select items have been announced. Despite challenges, Lululemon maintains a strong cash position, allowing it some financial flexibility.
Source: YAHOO