Lululemon athletica inc. cut its full-year revenue and profit forecasts for the second time this year, days before incoming CEO Heidi O'Neill, a former Nike executive, takes over on September 8. The company now expects fiscal 2026 revenue of $10.35 billion to $10.5 billion, down from a prior forecast of $11.0 billion to $11.15 billion, after second-quarter revenue fell 4% to $2.42 billion and comparable sales dropped 9% globally. Shares tumbled 18% to an eight-year low, extending the stock's decline this year to roughly 52%. Americas revenue fell 8% in the quarter while international revenue rose 4%, and management expects another 10% to 11% revenue decline in the third quarter. Hedge fund holders fell to 51 in the second quarter from 61 in the first, with combined position value nearly halving to $612 million from $1.14 billion.
Lululemon Athletica Inc.Lululemon cut its full-year revenue and profit forecasts for the second time this year after Q2 revenue fell 4% and comparable sales dropped 9%.
Nike Inc