Lululemon forecasts flat Q4 same-store sales; shares tumble

Thu Dec 12, 2013 7:27am EST
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TORONTO Dec 12 (Reuters) - Canadian yogawear chain Lululemon Athletica Inc, which appointed a new chief executive this week, reported higher profit on Thursday, but forecast flat same-store sales for the crucial fourth quarter.

Shares slid 10.7 percent to $61 in trading before the morning bell on the Nasdaq.

Net income rose to $66.1 million, or 45 cents per diluted share, for the third quarter ended Nov. 3, from $57.3 million, or 39 cents, in the same period a year ago.