Stock Market Today, Sept. 4: Lululemon Plummets 17% After Slashing Guidance
On Sept. 4, 2026, the premium sportswear maker expects further losses, meaning incoming CEO Heidi O'Neill will face a prolonged turnaround.
Overview
Lululemon Athletica (NASDAQ:LULU), a premium yoga-inspired athletic apparel company, closed at $100.61, down 17.38%. Shares fell after the company cut its full-year revenue and earnings outlook again, and investors will be watching to see how effectively the new CEO can turn things around.
Trading volume reached 37.1 million shares, coming in about 1,000% above its three-month average of 3.37 million shares. Lululemon IPO'd in 2007 and has grown 704% since going public.
The S&P 500 (SNPINDEX:^GSPC) closed at 7,718, down 0.38%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) finished at 26,507, down 0.29%. In athletic apparel stocks, Nike (NYSE:NKE) closed at $38.40, down 0.95%, while Deckers Outdoor (NYSE:DECK) closed at $85.81, up 1.55%, offering a mixed read on premium brand demand.
Details
Lululemon's woes went from bad to worse today as the already-struggling stock cratered. Q2 net revenue fell 4% to $2.4 billion year-on-year, and the firm expects its Q3 revenue to be between $2.29 billion and $2.320 billion -- down around 10% on the year before. Today's falling revenue and guidance cut follow several difficult years, and the stock has fallen over 51% year-to-date.
Source
Originally published at www.fool.com.