BUZZ-Lululemon Athletica Inc: Lower-than-expected Q3 profit

Wed Dec 9, 2015 8:24am EST
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** Canadian yogawear retailer's shares down 11.1 pct at $46.35 premarket

** Company reports lower-than-expected Q3 profit as a bloated inventory and higher costs squeezed margins

** Q3 adj. profit of 35 cents per share vs analysts' estimate of 37 cents per share

** Company cuts upper end of its FY revenue forecast to $2.04 bln from $2.06 bln, and retained the lower end at $2.03 bln

** Up to Tuesday's close, stock had fallen 6.5 pct this year