Lululemon’s Woes Mount on Weak Demand, Trump Trade Policies (1)

Lululemon Athletica Inc.’s rough year continued as the once fast-growing apparel chain slashed its outlook on weakening demand and the Trump administration’s tougher trade policies.

The retailer’s shares tumbled 20% at the open of Friday trading, deepening a decline this year that had already erased $22 billion in market value.

The Vancouver-based company warned Thursday that it will take a $240 million hit from President Donald Trump’s decision to end the de minimis exemption. The policy had helped Lululemon ship many of its US e-commerce orders under $800 duty-free from Canada.

The retailer now projects sales in the ...