Lululemon has seen its shares nosedive after falling just short of predictions for the second quarter

Mark Sands
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Lululemon saw its shares fall by 8 per cent in extended trading (Source: Getty)

Yoga apparel maker Lululemon saw its shares nosedive in late trading last night after it fell just short of expectations for the second quarter of 2016, while also posting a cautious forecast for the full year.

Shares dropped eight per cent in extended trading to $70.30 after the firm revealed quarterly earnings of $514.5m (£387.7m).

According to Yahoo Finance, the performance fell just short of forecasts of $515.5m for the three months to July.

The Vancouver-based firm fell short on predictions for total like-for-like sales, which rose 5 per cent for the quarter, below predictions of 5.9 per cent.

And the firm's own expectations for the remainder of the year also dipped below analyst's hopes.

Lululemon said earnings for the third quarter could be as low as $535m or $0.42 per share, below predictions of $542m or $0.44 per share.

It also set a baseline of $2.325bn for full year earnings, below a forecast of $2.34bn.

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