Lululemon’s stock gave up gains in extended trading Thursday after the company slashed its sales expectations for Mirror, the at-home fitness device it acquired last year.
The athletic apparel maker reported fiscal third-quarter earnings and sales ahead of analysts’ estimates, prompting it to boost its full-year outlook.
However, it said some shopper demand over the holidays might have been pulled forward, as consumers kicked off their gift buying earlier this year. As a result, its fourth-quarter outlook came in lighter than some analysts had expected. Management also cited supply chain issues that have left some categories of goods, such as outerwear, under stocked during key shopping days.
Source: CNBC
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