Lululemon Athletica shares fell 18.49% to $99.26 in premarket trading Friday, reaching a new 52-week low after the company reduced its fiscal 2026 revenue and earnings forecasts. Revenue declined 4% year over year to $2.4 billion, comparable sales fell 10%, and management attributed weaker performance primarily to deteriorating brand sentiment and traffic in North America and China. North America revenue dropped 8%, while China Mainland revenue rose 4% on a reported basis but fell 2% in constant currency, which excludes exchange-rate effects. Digital revenue declined 6% to about $900 million, or 39% of total revenue. Lululemon lowered fiscal 2026 GAAP EPS guidance to $9.48-$9.73 from $10.95-$11.15, below the $10.96 analyst estimate, and cut its revenue forecast to $10.35 billion-$10.50 billion from $11 billion-$11.15 billion. Its third-quarter outlook also fell well below consensus, with projected GAAP EPS of 93 cents to 98 cents and revenue of $2.29 billion-$2.32 billion. Incoming CEO Heidi O’Neill is expected to join next week and plans to conduct a deep review of the business, strategy and action plan.