GoKawiil
Tech News
Lululemon Athletica's stock fell more than 20% in premarket trading Friday after the company reported weaker-than-expected sales in China. The slowdown followed a viral controversy in May involving a promotional drum event that appears to have damaged the brand's standing with Chinese consumers. The stock is now down 42% year-to-date.
Lululemon reported a 4% revenue decline and 9% drop in comparable sales for its second fiscal quarter, sending shares down over 20%. Interim CEO Meghan Frank pointed to negative social media chatter and slower-than-expected demand for core products like leggings, ahead of incoming CEO Heidi O'Neill's start next week. Meanwhile, cybersecurity firm Zscaler topped fourth-quarter expectations with revenue up 25% year-over-year, though its stock has lagged industry peers despite rising AI-related security demand.