June 9, 2015 / 2:13 PM / 2 years ago

BRIEF-Lululemon sees positive sales trend in Canada, U.S.

2 Min Read

June 9 (Reuters) - Lululemon Athletica Inc :

* CEO says men's business delivering 19 percent comparable sales growth

* CEO says results were impacted by weather, port-related delays and foreign exchange

* CFO says foreign exchange impact decreased reported revenues by $15.2 million or 3.6 percent in Q1

* CFO says late product deliveries due to West Coast port delays resulted in elevated inventories at end of quarter

* CFO says product inventories will remain elevated for next couple of quarters as a result of delays, but expects minimal markdown risk

* CFO says Canadian stores seeing positive comparable sales trend in Q2 driven in part by higher conversion

* CFO says U.S. stores also posting strong comparable sales trend in initial weeks of current quarter

* CFO says air freight costs will remain a headwind in Q2 before abating in second half of year

* CFO says air freight costs came in about 30 percent to 40 percent higher than expected and weighed on margins

* CEO says stores in Asia and Europe are exceeding expectations

* CEO says very happy with pace and success of international expansion so far Source text for Eikon: Further company coverage: (Reporting by Solarina Ho)

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