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Lululemon beat Wall Street expectations for fiscal first-quarter earnings Thursday, but cut its full-year earnings guidance, citing a "dynamic macroenvironment."

As the company navigates tariffs and fears about a slowing U.S. economy, CEO Calvin McDonald said in a news release that "we intend to leverage our strong financial position and competitive advantages to play offense, while we continue to invest in the growth opportunities in front of us."

He said on a conference call with analysts that he is "not happy" with U.S. growth and said U.S. consumers are being cautious and intentional about their buying decisions.

Chief Financial Officer Meghan Frank added on the call that the brand is planning to take

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