Lululemon just reset expectations — and investors didn't love it.
Shares sank as much as 20% in after-hours trading Thursday after the company cut its full-year sales and profit forecast, citing “challenging dynamics” heading into the back half of the year.
The timing stings: the guidance cut lands just days before Nike veteran Heidi O'Neill steps in as CEO. One analyst noted Lululemon carries no debt — the real challenge now is getting sales growing again.
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