Lululemon Athletica shares closed at $100.61 on Friday, down 17.38%, after the athletic-apparel retailer reported second-quarter revenue of about $2.42 billion, below the $2.46 billion consensus estimate, and reduced its fiscal 2026 revenue and earnings outlook. Earlier coverage placed the shares at $99.67, down 18.2%, reflecting differing reports of the session's closing price. The company now expects third-quarter revenue of $2.29 billion to $2.32 billion, below the $2.53 billion analyst estimate, and cut its full-year revenue forecast to $10.35 billion to $10.50 billion from $11 billion to $11.15 billion. Its full-year EPS outlook was reduced to $9.48 to $9.73 from $10.95 to $11.15, compared with Wall Street expectations of $10.96. Baird, UBS, Wells Fargo and Morgan Stanley lowered their Lululemon price targets after the results. Gerber Kawasaki co-founder and CEO Ross Gerber described the company as "in shambles," while Michael Burry called Lululemon the "trickster" in his portfolio. Market commentator Sam Badawi said Burry planned to buy aggressively below $100 and viewed a private-equity takeover as a potential long-term outcome. The latest selloff follows a 9% comparable-sales decline, weaker North American performance and a leadership transition. Heidi O'Neill is scheduled to become CEO on Sept. 8, replacing interim co-CEOs Meghan Frank and Andre Maestrini after Calvin McDonald left in January.