Yogawear maker Lululemon forecasts lower first-quarter results

Thu Mar 27, 2014 7:28am EDT
 
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March 27 (Reuters) - Canadian yogawear retailer Lululemon Athletica Inc forecast lower-than-expected current-quarter results, after posting a quarterly profit that was almost unchanged from a year earlier.

Lululemon earned $109.7 million, or 75 cents per share, in the fourth quarter ended Feb. 2, nearly unchanged from $109.4 million, or 75 cents per share, a year earlier.

Net revenue increased 7 percent to $521.0 million.

The company forecast first-quarter profit of 31 to 33 cents per share, on revenue of $377 million to $382 million.

Analysts on average were expecting first-quarter profit of 38 cents per share on revenue of $389.4 million, according to Thomson Reuters I/B/E/S. (Reporting by Solarina Ho and Swetha Gopinath; Editing by Savio D'Souza)