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Story summary
- Lululemon's shares fell 15% after a weak second quarter and an outlook cut.
- Revenue declined 4% and comparable sales dropped 9% in that quarter.
- Interim CEO Meghan Frank blamed negative social-media commentary and a slowdown in core categories, including leggings.
- Lululemon projected Q3 revenue of $2.29-$2.32 billion, about 10%-11% lower YoY.
- Heidi O'Neill will assume the CEO role next week.
