Lululemon Drops 11% Following Q4, Annual Outlook

(RTTNews) - Shares of athletic apparel retailer Lululemon Athletica Inc. (LULU) are falling more than 11% Friday morning following fourth-quarter and full-year outlook.

Looking forward, the company expects revenue to be in the range of $2.605 billion-$2.655 billion and earnings per share in the range of $4.20-$4.30 for the fourth quarter.

Analysts on average expect the company to report earnings of $4.3 per share on revenue of $2.65 billion for the quarter.

For the full year, the Company expects net revenue to be in the range of $7.944 billion-$7.994 billion and adjusted EPS in the range of $9.87-$9.97.

The consensus estimate for earnings is at $9.92 per share and for revenue is at $7.9 billion.

Profit in the third quarter increased to $255.47 million or $2.00 per share from $187.79 million or $1.44 per share a year ago. The consensus estimate was for $1.97 per share.

Net revenue increased 28% year-on-year to $1.857 billion.

LULU, currently at $339.61, has traded in the range of $251.51-$421.39 in the last 1 year.