Lululemon stock down 5% after Q3 earnings

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Lululemon stock falls after company’s adjusted profit disappoints

Shares of Lululemon Athletica Inc. fell more than 5% in the extended session Wednesday after the apparel retailer reported an adjusted third-quarter profit below Wall Street expectations. Lululemon said it earned $126 million, or 96 cents a share, in the quarter, compared with $94 million, or 71 cents a share, in the third quarter of fiscal 2018. Adjusted for one-time items, Lululemon earned 75 cents a share. Sales rose 23% to $916.1 million, Lululemon said. Analysts polled by FactSet had expected GAAP earnings of 94 cents a share and adjusted earnings of 93 cents a share on sales of $899 million. Lululemon said it expects fiscal 2019 net revenue between $3.895 billion and $3.910 billion, and EPS between $4.75 to $4.78 for the full year. The analysts surveyed by FactSet expect an adjusted EPS of $4.75 on sales of $3.891 billion. Shares of Lululemon ended the regular trading day

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