Shares of Lululemon get stretched

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.

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