Lululemon stock plummeted 18% in after-hours trading on September 3, falling below $100 and hitting its lowest level in roughly eight years. The company has now cut its full-year revenue guidance three times since March, bringing projections down to $10.35 billion to $10.50 billion from an initial range of $11.35 billion to $11.50 billion. Second-quarter revenue declined 4% year over year to $2.42 billion, missing analyst expectations. Comparable sales dropped 10% globally and 12% in North America, amid intensifying competition from Alo Yoga and Vuori and media controversies that damaged the brand’s reputation.
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