US Stocks Movement | Lululemon drops over 11% in after-hours trading as Q2 earnings guidance weakens and full-year outlook is lowered

Glonghui, June 5 — Lululemon (LULU.US) fell more than 11% in after-hours trading, closing at $111.17. On the news front, Lululemon announced its first-quarter results: revenue stood at $2.47 billion, up 4% year-on-year, exceeding the market consensus of $2.43 billion; earnings per share were $1.69, slightly below the market expectation of $1.70. During the period, net revenue in the Americas fell by 3%, while international revenue grew by 22%. Thanks to the growth of international business, overall comparable sales rose 1% year-on-year. Looking ahead to the second quarter, Lululemon expects revenue to range between $2.45 billion and $2.48 billion, and earnings per share to be between $1.76 and $1.81, both below market expectations of $2.6 billion and $2.71, respectively. In addition, Lululemon has lowered its full-year guidance, expecting full-year revenue to be in the range of $11 billion to $11.5 billion, and earnings per share to range from $10.95 to $11.15. (Glonghui)