September 10, 2009 / 12:07 PM / 8 years ago

UPDATE 2-Lululemon profit falls but tops analyst forecast

*EPS $0.13 vs analysts’ consensus view $0.10

*Revenue rises 14 pct to $97.7 mln

*Sees flat third-quarter same-store sales

*Shares jump 5 pct (In U.S. dollars. Updates stock price)

TORONTO, Sept 10 (Reuters) - Canadian retailer Lululemon Athletica LLL.TO reported lower quarterly earnings on Thursday, but they topped analyst estimates and the company’s shares rose more than 5 percent.

The company, which sells yoga and workout wear, said its profit was $9.2 million, or 13 cents a share, in the second quarter, down from $11.1 million, or 16 cents a share, a year earlier. Revenue rose 14 percent to $97.7 million.

Analysts, on average, had expected earnings of 10 cents a share before extraordinary items and revenue of $87.1 million, according to Reuters Estimates.

The results topped Lululemon’s own forecasts. In mid-June, the company forecast second-quarter revenue of $85 million to $90 million, and earnings per share of 8 cents to 9 cents.

The company’s shares, which have dropped about 21 percent in the past year, were up 5 percent at C$24.59 on the Toronto Stock Exchange on Thursday morning.

Lululemon said same-store sales dropped 2 percent in the second quarter, and that it expected same-store sales to be flat in third quarter compared with the same quarter of 2008.

It said it sees revenue of $95 million to $100 million in the third quarter and earnings per share of 11 cents to 13 cents. ($1=$1.08 Canadian) (Reporting by Scott Anderson; editing by Peter Galloway)

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