Shares of Lululemon Athletica (LULU.US) plummeted more than 8% at Friday's market open, hitting their lowest level since 2018, with the stock currently trading at $114.82.

The sharp decline follows the company's significant downward revision of its full-year profit and revenue guidance, attributed to ongoing sales weakness in its largest market, North America, and rising tariff costs.

The company now anticipates full fiscal 2026 earnings per share to be in the range of $10.95 to $11.15, a reduction of over $1 from its prior forecast of $12.10 to $12.30.

Full-year revenue expectations have been lowered from a range of $11.35 billion to $11.5 billion down to $11.0 billion to $11.15 billion, implying full-year revenue will be flat or decline by 1%, compared to a previous expectation for growth of 2% to 4%.

Interim Co-CEO and CFO Meghan Frank acknowledged on the earnings call that a surge in negative commentary about the brand across media and social platforms has impacted store traffic and overall revenue.

She also conceded that some new product introductions in the second quarter have not resonated with consumers as strongly as anticipated.