0739 ET - Jefferies had been expecting that Lululemon's 2Q results wouldn't move the needle much. "We spoke too soon," they say. Lululemon plunges 20% after the retailer cut its outlook for the second time this year. The latest results show brand momentum continuing to fade, market share losses mounting and margins continuing to narrow, the analysts say. Lululemon is still dealing with high costs because its prior leadership opened more, bigger stores, they say. The analysts expect margins and EPS to keep dropping.
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Lululemon's Latest Results Show Company Still Hasn't Hit Bottom
Dow Jones09-04
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