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

Tue Jun 9, 2015 10:11am EDT
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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   Continued...