Lululemon says same-store menswear, girls' sales still rising

Tue Jan 14, 2014 1:01pm EST
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TORONTO Jan 14 (Reuters) - Lululemon Athletica Inc's same-store sales of menswear and apparel for young girls and e-commerce revenue are still rising, Chief Financial Officer John Currie said on Tuesday, the day after the high-end yogawear retailer warned about quarterly results.

The company said on Monday that sales at established stores would probably fall in its latest quarter, the first year-on-year drop since 2009.

But Currie said at the ICR XChange Conference that if sales at existing stores were combined with positive e-commerce sales, this "translates to low-single-digit positive comp."

The company's stock dropped as much as 18 percent on Monday after it warned same-store sales, revenue and earnings in the fourth quarter ending Feb. 2 would be lower than forecast in December because traffic and sales in January slowed "meaningfully."

Currie said the lowered outlook overshadowed positive news, including low double-digit same-store sales growth for its men's and young girls' business segments.

Shares of Lululemon were down 0.7 percent at $49.33 in afternoon trading on Tuesday