Lululemon sinks after warning that Omicron could cut earnings

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Lululemon Athletica Inc. said the Omicron variant of COVID\u002D19 has forced it to reduce its earnings expectations for the fourth quarter

Lululemon Athletica Inc said on Monday it expects the Omicron coronavirus variant to have dented holiday-quarter results as the yoga-wear maker cut down on staffing and store hours during the key shopping period.Lululemon Athletica Inc. said the Omicron variant of COVID-19 has forced it to reduce its earnings expectations for the fourth quarter of 2021.Article content

The Vancouver-based company now expects its net revenue to come in at the low end of its range of $2.125 billion to $2.165 billion. Diluted earnings per share and adjusted diluted earnings per share are also expected to hit the low end of its range of $3.24 to $3.31 and $3.25 to $3.32, respectively, the company said in a press release.

 

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