Lululemon Shares Fall As Retailer Trims Sales Outlook
Lululemon Athletica Inc. on Wednesday reported a 12% decline in quarterly profit and lowered the top end of its yearly sales forecast. The yoga wear maker said fiscal third-quarter earnings were $53.2 million, or 38 cents a share, down from $60.5 million, or 42 cents a share, a year earlier. Sales, however, climbed to $479.7 million from $419.4 million a year ago. Analysts polled by FactSet had expected per-share earnings of 37 cents on $482.3 million in sales. Lululemon now expects fiscal 2015 sales of $2.025 billion to $2.040 billion. In September, the top end of its sales range was $2.055 billion. Shares of the company fell 8.1% in premarket trade.
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