Shares of Lululemon get stretched

|About: Lululemon Athletica Inc. (LULU)|By:, SA News Editor

Lululemon (LULU) falls hard after the retailer's results and guidance disappoint.

For the six months ending on August 4, the company saw comparable store sales increase at a rate of 8% which shows a deceleration from its lofty gains in previous periods.

The company has also seen its bottom line hit by higher tax rate, 29.7% in Q2 vs. 19.1% a year ago.

LULU -7.7% premarket to $63.59.