BUZZ-Lululemon Athletica Inc: Raises forecast

Tue Jun 9, 2015 10:39am EDT
 
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(Updates)

** Canadian yogawear retailer's shares up 6 pct at $65.30

** More than 6 mln shares traded by 10:30 a.m. ET, compared with 25-day average of about 2 mln; turnover of more than $400 mln

** Company raises FY EPS forecast by 1 Canadian cent to $1.86-$1.91 and revenue forecast by $30 mln to $2.0-$2.05 bln

** "They are giving relatively conservative guidance, likely they can beat it again," Topeka Capital Markets analyst Dorothy Lakner says

** Q1 profit more than doubles, helped by 6 pct rise in total comparable-store sales on a constant-dollar basis

** Revenue rises about 10 pct to $423.5 mln

** Up to Monday's close, stock had risen 10.3 pct this year