Lululemon says first-quarter profit to fall on recall

Thu Mar 21, 2013 7:26am EDT
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TORONTO, March 21 (Reuters) - Yogawear retailer Lululemon Athletica Inc said on Thursday it expects its earnings to fall in the current quarter, hurt by the product recall announced on Monday.

The Canadian company forecast first-quarter earnings per share between 28 cents and 30 cents, down from 32 cents a year earlier.

Lululemon said on Monday it was taking many of its stretchy pants off store shelves because it had discovered that they were too transparent.