Shares of Lululemon Athletica inc. (NASDAQ: LULU) are down more than 9% after the designer, distributor and retailer of athletic apparel has reported quarterly earnings, showing a mixed performance but warning of a slowdown in future sales.
Lululemon earnings were 38 cents a share, a jump of 12% year over year. Sales increased 14% reaching $514.5 million, and yet still disappointed since analysts expected about $515.5 million in sales.
The guidance for the current quarter has been a little on the down side. The company said that quarter 3 revenue is expected to be $535 million to $545 million and EPS to 42-44 cents. Both are on the lower side of expectations.