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Lululemon shares plunge 16%
Lululemon shares plunge 16%

Lululemon Athletica Inc. shares plunged to their lowest level in more than three years after the apparel maker reported lackluster quarterly results and cut its financial forecast amid a public feud between founder Chip Wilson and the company's board. The stock fell $7.05, or 15.9%, on Thursday to $37.25. Early in the day, Lululemon posted earnings of $19 million, or 13 cents a share, for its fiscal quarter ended May 4, compared with $47.3 million, or 32 cents, for the year-earlier quarter. Revenue rose 11% to $384.6 million, but same-store sales increased just 1%. The company also reported a tax-related drop in first-quarter earnings stemming from a plan to buy back up to $450 million...

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