Shares of yoga pants-maker Lululemon are down 7 per cent in after-hours trading.The company just published revised financial guidance, which is disappointing investors.
From the press release:
For the fourth quarter, the Company now anticipates that net revenue will be at the high end of its original guidance range of $475 million to $480 million based on a comparable-store sales percentage increase in the high single digits on a constant-dollar basis. The Company also now expects diluted earnings per share will be $0.74 for the quarter. The previous guidance for the fourth quarter was a range of 0.71 to $0.73. EPS guidance continues to assume 145.9 million diluted weighted-average shares outstanding and a 29.4% tax rate.
This updated revenue guidance is much weaker than the $489 million analysts were forecasting.
The stock, which was trading in the single-digits in 2009, closed at $72.30 today.