Vancouver-based lululemon athletica's shares fall sharply
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It was a rough ride today for investors in Vancouver's leading technical-apparel company.
Lululemon athletica shares fell 16.41 percent—the largest one-day fall in nearly two years.
They closed at $53.54 on the NASDAQ, down from $60.07 at the opening.
Lulu's shares are still above the 52-week low of $52.88.
It came after margins fell on its products from 50.5 percent to 46 percent in the most recent quarter.
Net revenue increased 16 percent over the same quarter as last year.
However, net income over the quarter fell two percent to $47.7 million.
Comments
1 Comments
ursa minor
Sep 11, 2015 at 8:30am
Hopefully that price will continue to fall as people realize what a Randian sleaze Chip Wilson is in exploiting the Yogic tradition for profit, his fealty to Christy Clark and her LNG Ponzi Scheme, and the ongoing bullying of his neighbors in order to maintain his grandiose lifestyle.