Lululemon Slumps as Outlook Falls Short of Wall Street Estimate.

Lululemon Athletica Inc. has reported guidance for the fourth quarter that fell short of expectations, disappointing investors. While sales growth is in line with forecasts, it has continued to slow from a high in 2022. The company's stock has already risen 45% in 2023, more than double the gain of the S&P 500 Index. Lululemon also recognized charges related to discontinuing its fitness product, Mirror. Inventories fell 4% in the quarter, compared to an expectation for a 12% increase. [Extracted from the article]