Athleisure clothing brand Lululemon (LULU) and consumer cosmetics company Ulta Beauty (ULTA) have both lowered their full-year 2024 guidance in their latest earnings results. Initially moving higher in Friday's pre-market trading, Lululemon shares have since ticked down in regular trading hours.

Lululemon reported mixed second quarter results: $2.37 billion in revenue (below estimates of $2.41 billion), and adjusted earnings of $3.15 per share (above estimates of $2.95 per share). Ulta's earnings saw $2.55 billion in revenue (below estimates for $2.62 billion) and adjusted earnings of $5.30 per share (also below estimates of $5.50 per share).

Brian Sozzi and Brad Smith examine the major takeaways from these two disappointing earnings from top retail brands.

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This post was written by Luke Carberry Mogan.