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Company News

Lululemon Athletica forecasts holiday quarter profit below estimates

Dec 11 (Reuters) - Lululemon Athletica Inc forecast holiday quarter profit largely below analysts’ expectations on Wednesday, sending the Canadian apparel maker’s shares down 5% in extended trading.

The Vancouver-based company expects to earn between $2.10 and $2.13 per share in the fourth quarter. Analysts on average had expected the company to earn $2.13 per share.

Total comparable sales rose 17% on a constant currency basis in the third quarter ended Nov. 3. Analysts had estimated a rise of 14.39%, according to IBES data from Refinitiv. (Reporting by Praveen Paramasivam and Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila)

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