Lululemon Blames Social Media Backlash For Sales Slowdown, Cuts Outlook

Lululemon Athletica reported mixed Q1 results with revenue beating estimates but earnings missing expectations. The company blamed social media backlash and weak product launches for sales slowdown, cutting both Q2 and full-year guidance significantly. North America revenue declined 3% while China grew 30%. Shares plunged 11.14% to a 52-week low in premarket trading.