Yoga-wear maker Lululemon Athletica, still recovering from an embarrassing recall of see-through pants last year that hurt sales, is looking a little threadbare financially these days.

On Thursday, the company slashed its revenue and earnings forecast for the fiscal year, announced a $450 million share buyback program and said Chief Financial Officer John Currie will retire by next February.

The news sent Lululemon shares plummeting over 14 percent on the New York Stock Exchange, meaning the stock has lost over 50 percent of its value in a little over eight months.

If that wasn't enough, Chip Wilson, Lululemon's founder and biggest shareholder, lashed out at the board on Wednesday, saying the company's new chairman and another director are too focused on short-term growth and that he had voted against them in board elections.

It was Wilson who also caused a stir last year when he said the brand's pants weren't meant for all women's bodies. That was after it had to recall its luon pants because they were a little too sheer for doing the Downward Dog.

The company said it now expects revenue for the year ending in February to be in the range of $1.77 billion to $1.80 billion, with adjusted earnings of between $1.71 per share and $1.76 per share. It had earlier forecast earnings of $1.80 to $1.90 per share on revenue of $1.77 billion to $1.82 billion. Analysts currently expect earnings of $1.89 a share on revenue of $1.8 billion.

Excluding a one-time adjustment for planned repatriation of foreign earnings, Lululemon said its profit in the last quarter was 34 cents a share, which exceeded analysts' estimates. But on a net basis, profit in the fiscal first quarter ended May 4, fell to $19 million, or 13 cents per share, down from $47.3 million, or 32 cents per share, a year earlier. Revenue rose 11 percent to $384.6 million, the Vancouver-based company said.

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Yoga Pants Maker Lululemon's Prospects Frayed Around the Edges