Lululemon's Unexpected China Downturn Adds to Visibility Concerns
Dow Jones
Sep 04
8:12 ET - Lululemon Athletica's worsening Chinese business has added new uncertainty to the company's potential recovery. The Mainland China business had been one of the few bright spots and the strongest regional contributor to sales, Stifel analysts say. Yet executives say the Chinese market had a bad second quarter. Management now expects sales to grow by a high single-digit percentage, down from its prior guidance of roughly 20% growth, Truist analysts say. The unexpected downturn adds to investor concerns about a lack of visibility into when earnings may hit bottom, the Truist analysts add.
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