Lululemon (LULU) earnings Q2 2024 [Video]

Lululemon lowered its guidance and posted its first revenue miss in more than two years on Thursday after it botched a highly anticipated product launch and growth slowed in the Americas. 

The company now expects full-year net revenue to be between $10.38 and $10.48 billion, down from a previous range of between $10.7 billion and $10.8 billion. Lululemon anticipates earnings per share will be in a range of $13.95 to $14.15, down from previous guidance of $14.27 to $14.47.

Here’s how company did in its fiscal second quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv:

• Earnings per share: $3.15 vs. $2.93 expected
• Revenue: $2.37 billion vs. $2.41 billion expected

Shares rose more than 2% in extended trading after initially falling.

The company’s reported net income for the three-month period that ended July 28 was $393 million, or $3.15 per share, compared with $342 …