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Lululemon shares slide thanks to Q4 expectations
Lululemon’s increases in net revenue, gross profit and comparable-store sales beat expectations, but shares slid after the company said it anticipates flat comparable-store sales in the fourth quarter.
According to reports, shares dropped 10.7% to $61 after the company posted its financial results for the third quarter ended Nov. 3, which saw net revenue increase 20% to $379.9 million from $316.5 million in last year’s third quarter. Comparable-store sales in the quarter increased 5%.