Lululemon missed its revenue target for the first time in over two years, lowering its full-year guidance. The revenue shortfall was partly due to a botched product launch and slower growth in the Americas. Lululemon's profits exceeded expectations, with earnings per share at $3.15, beating estimates. The athletic apparel company is focusing on improving operations and efficiency, especially as it sees strong international growth. CEO Calvin McDonald stated that the slowdown in Lululemon's U.S. women's business is primarily due to a lack of new styles but emphasized that the brand remains strong in the U.S. market.