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Lululemon shares fall as yoga-wear giant cuts profit forecast
Lululemon shares fall as yoga-wear giant cuts profit forecast

Lululemon Athletica Inc. shares plunged to the lowest level in more than three years after the apparel maker cut its earnings forecast and dealt with a public feud between its founder Chip Wilson and the company’s board. The stock fell almost 15% to $37.66 Thursday morning after Lululemon said annual earnings will be $1.71 to $1.76 a share, down from an earlier projection of $1.80 to $1.90. Revenue will be $1.77 billion to $1.8 billion, down from a prior estimate of $1.82 billion. Estimated second-quarter profit will be 28 cents to 30 cents a share. Revenue will be $375 million to $380 million, less than the $387 million that Wall Street expected. The company also reported a...

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