Lululemon shares were down as much as 16% pre-market after the yogawear maker lowered full year guidance and reported a drop in profit. 

The Vancouver-based firm now sees full-year revenue of $1.77 billion to $1.8 billion, compared with earlier estimates for $1.77 billion to $1.82 billion.

They reported profits of $19 million, or $0.13/share, down from $47.3 million, or $0.32/share, a year ago.

Same-store sales climbed 1%.

The firm announced CFO John Currie, who's been with the firm for seven years, would retire. CEO Christine Day was just replaced in January. Founder Chip Wilson tried unsuccessfully to oust two outside board members Wednesday, including new chairman Michael Casey. "Mr. Wilson, who owns 27 per cent of the company’s shares, said the directors were focusing on short term results 'at the expense of product, culture and brand and longer term corporate goals,'" the Globe and Mail reported.

The firm also announced a share-repurchase program of up to $450 million, to be funded through the repatriation of foreign earnings. The company recorded a $30.9 million tax charge in the first quarter for the planned repatriation.

See Also:

Four Russian Bombers Flew Within 50 Miles Of The California CoastHere's How You're Told By The President You've Been Awarded The Nation's Highest Award For BraveryI Tried Using Instagram Like A Teenager And It Completely Changed The Way I See The AppMore Leaked Photos Of The iPhone 6 Next To An iPhone 5SDave Chappelle Had A Very Honest Description Of What It's Like Walking Away From $50 Million