Lululemon Athletica Inc. (LULU) announced after the bell Monday the recall of its signature black Luon fabric yoga pants and crops from stores, showrooms and online website. The company lowered its revenue and comparable-store sales guidance for the first quarter after the recall that stemmed from the detection of fabric quality issues.
Lululemon Athletica gapped open sharply lower Tuesday, but recovered some ground late in the afternoon. Shares finished down by 1.82 at $64.08, with volume at a 9-month high. The stock dropped to nearly a 7-month low.
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