Lululemon cuts 4th-qtr forecast as sales dip in January

Mon Jan 13, 2014 6:20am EST
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Jan 13 (Reuters) - Upscale yogawear retailer Lululemon Athletica Inc cut its forecast for the fourth-quarter due to weak sales in January.

The company expects net revenue to range between $513 million and $518 million for the quarter ending Feb. 2, down from $535 million to $540 million earlier.

The company expects to earn between 71 cents and 73 cents per share, down from its earlier estimate of 78 cents and 80 cents.

The forecast is based on comparable-store sales in the negative low-to-mid single digits on a constant-dollar basis.