Lululemon's stock plummeted 20% in premarket trading after the company issued disappointing second-quarter guidance and lowered its full-year profit forecast. The apparel maker projected lower-than-expected sales and earnings, citing cautious consumer spending. CEO Calvin McDonald noted consumers' intentional buying habits, while CFO Meghan Frank announced planned, modest price increases to offset tariff impacts. First-quarter results met expectations, except for comparable sales growth, which significantly underperformed.

Prepared by Christopher Adams and reviewed by editorial team.