(Lululemon) Shares of Lululemon Athletica Inc. fell up to 7% on Monday after the company said it expects revenue of $2.125 billion to $2.165 billion in the fourth quarter of 2021.
The company projects diluted earnings per share of $3.24 to $3.31, while the adjusted EPS is expected in the range of $3.25 and $3.32.
CEO Calvin McDonald says the company is pleased with a strong 2021, but Omicron impacts have increased headwinds ranging from capacity constraints to reduced operation hours and limited staff availability.
Lululemon reported net revenue of $1.5 billion in the third quarter, an increase of 30% from the third quarter of 2020.
LULU: NASDAQ is down -6.38% on premarket.
