Lululemon gets hammered, down 21% after cutting its full-year profit outlook

Lululemon sweats might be comfortable, but its second-quarter outlook is not.

Shares of the upscale athletic-wear company plunged more than 21% after the bell following its earnings report Thursday.

Lulu guided for second-quarter revenue of between $2.54 billion and $2.56 billion, shy of Wall Street’s estimate of $2.57 billion, and it forecast earnings per share of $2.85 to $2.90, far below analysts’ expectations of $3.29. The company cut its full-year EPS outlook to between $14.58 and $14.78. It had previously expected $14.95 to $15.15.

CEO Calvin McDonald nodded to the “dynamic macroenvironment” (i.e. tariffs and their impact). Lululemon rival and Athleta owner Gap last week said it expects a tariff hit of up to $150 million this year.

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