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Lululemon revises earnings guidance as Omicron impacts sales, profits

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Lululemon Athletica Inc. is lowering its fourth-quarter earnings estimates as the Omicron variant curbs the retailer's sales.

The Vancouver-based company says it now expects its net revenue and earnings to be on the low end of previously announced ranges.

He says Lululemon has been impacted by increased capacity constraints in stores, more limited staff availability and reduced operating hours in some locations. In a client note last March, Morningstar said Lululemon's valuation "is as stretched as its leggings."

 

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Lululemon sinks after warning that Omicron could cut earningsLululemon Athletica Inc. said the Omicron variant of COVID\u002D19 has forced it to reduce its earnings expectations for the fourth quarter Let us all take a moment to thank Lululemon for making yoga pants ubiquitous. 🙏
Source: nationalpost - 🏆 10. / 80 Read more »