UPDATE 4-Lululemon plans expansion, sees slower sales growth

Thu Dec 6, 2012 3:19pm EST
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* Quarter's same-store sales to slow to high single digits

* Quarterly profit 39 cents a share vs Street's 37 cents

* Opening full store in Hong Kong, testing elsewhere

* Revenue up 37 pct to $316.5 million

* Shares rise more than 5 percent (Adds quote from analyst, detail on e-commerce.)

By Allison Martell

Dec 6 (Reuters) - Lululemon Athletica Inc said on Thursday it would aggressively expand its chain of yoga shops in Europe and Asia, providing new avenues for growth even as its stellar performance in North America loses some luster.

Shares of the Vancouver-based retailer rose more than 5 percent after the news, which came as a counterweight to Lulu's

warning earlier on Thursday that it expected sales growth at established stores to slow sharply in the current quarter. Third-quarter results, however, came in stronger than expected.   Continued...