Update: Lululemon Fiscal Q2 Earnings, Revenue Fall; Full-Year Outlook Cut -- Shares Down Pre-Bell

05:54 AM EDT, 09/04/2026 (MT Newswires) -- (Updates with the latest stock price movement in the headline and the first paragraph.) Lululemon Athletica (LULU) shares were down nearly 19% in premarket activity Friday after the company overnight reported a decline in its fiscal Q2 results and cut its full-year outlook. The company reported fiscal Q2 earnings late Thursday of $2.92 per diluted share, down from $3.10 a year earlier. Analysts polled by FactSet expected $1.79. Revenue in the quarter ended Aug. 2 fell to $2.42 billion from $2.53 billion a year earlier. Analysts expected $2.46 billion. The company expects fiscal Q3 EPS of $0.93 to $0.98 and revenue of $2.29 billion to $2.32 billion. Analysts project EPS of $2.40 and revenue of $2.53 billion. Lululemon said it now expects fiscal 2026 EPS of $9.48 to $9.73 and revenue of $10.35 billion to $10.50 billion. It previously expected EPS of $10.95 to $11.15 and revenue of $11 billion to $11.15 billion. Analysts project EPS of $10.84 and revenue of $11.03 billion.