Lululemon cuts forecasts, blames tariffs and product issues

A Lululemon store in the CF Toronto Eaton Centre shopping mall in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio

LULULEMON Athletica slashed its annual profit forecast for the second quarter in a row, blaming weak U.S. business and product issues, as well as tariff costs.

Shares of the yogawear maker, which also cut its annual sales forecast, fell about 15% after the closing bell.