Lululemon Athletica's $15 Million Pants Shear Shares
Lululemon Athletica (LULU) fell 4% in late trading Monday after the yoga apparel maker said it will miss first-quarter sales targets due to a shortage of black Luon pants and crops. The black stretch pants have an unwanted see-through quality, a level of sheerness "that falls short of our very high standards," the company said in a statement. Lulu's wardrobe malfunction comes as it prepares to announce Q4 earnings Thursday before the market opens.
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