Yoga-inspired athletic apparel retailer Lululemon Athletica Inc. (LULU) saw its shares plummet after hours on Wednesday after posting a most recent fourth quarter miss and offering disappointing guidance for the current period. After closing up about 4.1% on Wednesday, shares of LULU are down about 17.95% in pre-market trading at a price of $54.40.

Weak Results Blamed on Lackluster Spring Clothing Line

The Vancouver, Canada-based athleisure company reporting adjusted earnings of 1.00 per share, missing analysts’ projected $1.01 per share. For the quarter ending Jan. 29, revenue of $789.9 million represented a 12% increase year-over-year (YOY), while analysts had expected sales of $783.5 million in the period. (See also: The Contrarian: Jefferies Oversells Under Armour)

For the current first quarter, Lululemon foresees earnings coming in between $0.25 to $0.27 per share, compared to analysts’ consensus of $0.39. Fiscal year 2017 earnings guidance also fell short of expectations, with an outlook of $2.31 EPS at the midpoint below the Street’s forecasted $2.56 EPS. Management’s guidance for current quarter revenue of $512.5 million at the midpoint missed the Street’s $792 million quarterly revenue forecast and includes sales growth at stores open at least one year falling into low single-digit growth.

Lululemon’s Q4 miss and weak guidance shouldn’t be a huge surprise to investors following the company’s U.S. retail peers such as Nike Inc. (NKE) and Under Armour Inc. (UAA), as firms struggle with shifting consumer shopping habits and macroeconomic headwinds. Bulls on LULU stock hoped the firm’s premiumization push, new products lines such as men’s apparel, and strong brand recognition would lead the company to persevere against the odds beating down its competitors.

“We should have been bolder with the color assortment,” stated Chief Executive Officer Laurent Potdevin in an analyst call on Wednesday. Potdevin says the firm is planning to offer new products intended to spice up its yoga gear and athleisure offerings as soon as next week. (See also: Nike Swoops Into Russia With Lavish Megastore.)

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