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1:39 a.m. Jan. 10, 2022 - By Ciara Linnane
Lululemon shares slide 7% premarket after company guides to low end of ranges as omicron hurt staffingLululemon Athletica Inc. shares slid 7% in premarket trade Monday, after the maker of yoga gear said fourth-quarter sales and profit will come in at the low end of its guidance ranges, after the omicron variant of the coronavirus hurt staffing levels in certain locations. The company is now expecting per-share earnings to come in at the low end of a $3.24 to $3.31 range, and for adjusted per-share earnings to come in at the low end of its $3.25 to $3.32 range. It expects revenue to come in at the low end of its range of $2.125 billion to $2.165 billion. "We started the holiday season in a strong position but have since experienced several consequences of the Omicron variant, including increased capacity constraints, more limited staff availability, and reduced operating hours in certain locations," Chief Executive Calvin McDonald said in a statement. Shares have fallen 2.8% in the last 12 months, while the S&P 500 has gained 22%.
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