08:18 AM EDT, 06/06/2025 (MT Newswires) -- (Updates with stock movement in the headline and first paragraph, minor edits)

Lululemon Athletica's ( LULU ) shares slumped more than 20% in recent Friday premarket activity, a day after the apparel company provided earnings outlook that missed analyst expectations.

After market close on Thursday, Lululemon reported fiscal Q1 net income late Thursday of $2.60 per diluted share, up from $2.54 a year earlier.

Analysts polled by FactSet expected $2.58.

Net revenue in the three months ended May 4 rose to $2.37 billion from $2.21 billion a year earlier.

Analysts surveyed by FactSet expected $2.36 billion.

The company said it expects Q2 diluted EPS of $2.85 to $2.90 on net revenue of $2.535 billion to $2.56 billion. Analysts polled by FactSet expect EPS of $3.29 on revenue of $2.56 billion.

The company said it expects full-year diluted EPS of $14.58 to $14.78 on net revenue of $11.15 billion to $11.3 billion. Analysts polled by FactSet expect EPS of $14.86 on revenue of $11.2 billion.