Lululemon cuts annual outlook, citing 'negative' media commentary and disappointing product launches

Key points

• Lululemon 's troubles are far from over.
• The athletic apparel retailer lowered its full-year guidance and issued a weak current-quarter outlook on Thursday as interim CEO Meghan Frank blamed "negative commentary in the media" and recent product launches that failed to wow shoppers.
• "We experienced spikes of negative commentary in the media and on social channels with regard to our brand, which had an impact on traffic and overall top line performance," Frank told analysts during the company's earnings call while explaining why the company's performance declined at the end of its fiscal first quarter.
• "And second, not all of our product launches have met our expectations.
• While we've had several successful launches so far this year, we've seen others as we start Q2 not generate the anticipated guest response." When pressed on what specific negative commentary led to a decline in sales, Frank pointed to Lululemon's proxy contest with...