1. Downward dog: Shares in sports apparel firm Lululemon( are under strain in extended trading. )
They fell by about 17% after the company predicted its sales would drop this quarter.
The culprit, according to CEO Laurent Potdevin: Its clothes don’t pop online. Lululemon will launch more colorful clothes on its website as soon as next week to tackle the problem, he said.
Shares in Swedish retailer H&M( are also slumping by about 4% in Europe as investors express their disappointment with the company’s latest earnings. The firm also announced it’s launching a new brand called Arket later this year. )
2. Stock market overview: It’s a ho-hum day for global stock markets. U.S. stock futures are holding around their closing levels from Wednesday afternoon.
3. Economics: The U.S. Bureau of Economic Analysis is releasing its updated GDP report for the fourth quarter at 8:30 a.m. ET. Economists expect GDP grew by 2.0% in the quarter, up from an earlier estimate of 1.9%.
Mexico’s economy is also in focus. The central bank meets to consider raising interest rates one more time.
It has already raised interest rates three times as part of a “contingency plan” to stabilize the crashing peso following President Trump’s election. Further action could come when the meeting wraps up at 3 p.m. ET.
4. Coming this week:
Thursday –Release of updated U.S. GDP for fourth quarter
Friday –Blackberry(Tech30) earnings; Final day of the first quarter of 2017 ,