Lululemon shares sink as profit forecast cut raises turnaround concerns

Shares of Lululemon Athletica fell about 8 percent on Friday to an over seven-year low of 109.36 dollars, Reuters reported, after the activewear retailer cut its full-year profit forecast and signalled mounting operational pressures. The sharp selloff reflected growing investor concern about the pace of the activewear retailer's turnaround and the challenges facing incoming chief executive Heidi O'Neill, who is set to assume the role in September.