Lululemon shares plunge 16%

Lululemon's stock took a dive on Friday following the release of lackluster guidance and news of sluggish sales in its primary market. Despite reporting earnings that exceeded expectations for the holiday season, the company revealed a slowdown in growth in North America.

Like many of its competitors, Lululemon is contending with uncertain consumer demand and a decrease in discretionary spending, particularly impacting the apparel sector. The company also faces increasing competition in the women's athletic apparel market, with newer players like Alo Yoga and Vuori vying for market share. To differentiate itself, Lululemon is expanding its product offerings, including a focus on footwear and its men's business.  Despite these challenges, Lululemon remains optimistic about its long-term growth prospects, particularly in international markets and new product categories Read the full story here