Lululemon cut its gross margin guidance significantly on Monday, now expecting a Q4 decline of 90 to 110 basis points compared to a previously estimated increase of 10 to 20 basis points.
The athleticwear brand also raised its fourth-quarter revenue outlook to between $2.66 billion and $2.7 billion, up slightly from previous estimates of $2.605 billion to $2.655 billion, per a company press release.
Lululemon also narrowed its diluted earnings per share expectations, now at $4.22 to $4.27 for Q4 compared to the previously anticipated range of $4.20 to $4.30.
Source: Retail Dive
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