Wall Street Sours on Lululemon Shares After Sales Outlook Cut

Only one Wall Street analyst still rates Lululemon Athletica Inc. as a buy after the upscale yogawear company cut its annual forecast amid slumping sales in North America.

BTIG LLC analyst Janine Stichter downgraded the firm to a neutral rating from a buy on Friday following Lululemon’s first-quarter earnings report, pointing to decelerating sales that “suggests more work ahead.” That leaves CFRA’s Zachary Warring as the sole bull among 32 analysts covering the stock — the fewest buy recommendations for the stock since Lululemon went public in 2007.

Read more: Lululemon Shares Sink to Eight-Year Low on Disappointing Outlook ...