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21 hrs ago | Business Journal
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Last week I wrote about yoga apparel retailer Lululemon Athletica Inc. closing on a distribution center in the Rickenbacker industrial market.
The Waldorf salad, invented in 1896 , had a decent day. If only the Dow Average , which arrived on the scene in the same year, could say the same.
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Lululemon Athletica Inc. is a designer, manufacturer, and distributor of athletic apparel for women, men, and female youth .
This morning, Janney slashed its price target by $14 to $76, while Credit Suisse downgraded the equity to "neutral" from "outperform."
LULU has been the subject of a number of other recent research reports. Analysts at Janney Montgomery Scott cut their price target on shares of Lululemon from $90.00 to $76.00 in a research note to investors on Friday.
Following the market opening Thursday, the Dow traded down 0.38 percent to 15,784.19 while the NASDAQ gained 0.04 percent to 4,005.38.
The yoga gear maker's stock is plunging on a weak forecast. Will the new incoming CEO save the day? Things are looking especially sour for Lululemon Athletica.
Lululemon Athletica has blamed macro and execution issues for cutting its full-year sales guidance, despite recording a 15.2% increase in profit during the third quarter.
Lululemon Athletica earned itself a second chance with investors on Tuesday, when it announced that its controversial founder, Chip Wilson, was out as chairman and a new CEO was in.
Lululemon Athletica shares were plunging on Thursday after the yoga apparel company said that fourth-quarter comparable sales would be flat and forecasted weaker-than-expected earnings.
The Toronto stock market looked set to add to Wednesday's sharp slide amid growing expectations that the U.S. Federal Reserve will start cutting back on its monetary stimulus program as early as next week.
The weak forecast comes as Lululemon Athletica Inc. looks to bounce back from a series of embarrassing issues that have hurt its image.