This morning, Lululemon (NASDAQ:LULU) said fourth quarter earnings and sales would be lower than previously anticipated. The retailer is seeing slower traffic to its stores in January and earnings will now be in the range of 71 to 73 cents per share on sales of $513 million to $518 million. Prior to the company's announcement, Wall Street estimates called for earnings of 79 cents per share on revenue of about $541 million. On the news today, shares of Lululemon were lower by more than 16% so far.
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