Why Shares of Lululemon Athletica Are Down Sharply Today
Shares of lululemon athletica (NASDAQ: LULU) were down sharply on Thursday afternoon, as concerns about the growing virus pandemic drove a broad-based market sell-off.
As of 1 p.m. EDT, Lululemon's shares were down about 7.6% from Wednesday's closing price.
Upscale yoga wear specialist Lululemon has a significant online business, but it's still a brick-and-mortar retailer with over 450 stores around the world. As with other retailers, investors in Lululemon are concerned that efforts to slow the spread of the COVID-19 virus via "social distancing" seem likely to put a heavy damper on retail foot traffic.
Source Fool.com