Lululemon Athletica (NASDAQ:LULU) is expected to revise its full-year guidance downward next week due to recent execution challenges and increased competition, according to Citi analysts. The company, set to report its second-quarter earnings on August 29, is predicted to post earnings per share (EPS) in line with consensus estimates, but the focus will be on its updated outlook for the rest of the year. Citi analysts highlighted Lululemon's recent decision to pull the much-anticipated Breezethrough legging launch from stores and online, suggesting this misstep could negatively impact the company’s second-half sales and margins. Concerns are growing that internal talent challenges and heightened competition may weigh on Lululemon’s long-term performance. Investors are anticipating Lululemon’s management to lower its full-year 2024 guidance, though the extent of the reduction remains unclear. Citi has already adjusted its fiscal 2024 EPS forecast for the company to $13.24, well below Lululemon’s current guidance range of $14.27 to $14.47 and the consensus estimate of $14.13. Additionally, Citi expects the company to revise its fiscal 2024 sales growth forecast from the previously anticipated 11-12% to the high single digits, reflecting weaker global comparable sales. Management may also reduce selling, general, and administrative (SG&A;) expenses to adjust to a slower sales trajectory.