Lululemon shares fall after weak forecast

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Associated Press

Posted on December 12, 2013 at 8:00 AM

Updated Thursday, Dec 12 at 8:01 AM

NEW YORK (AP) — Shares of Lululemon are falling in premarket trading after the yoga clothing maker said it expects a key sales figure to be flat in the next quarter.

The weak forecast comes as Lululemon Athletica Inc. looks to bounce back from a series of embarrassing issues that have hurt its image. It has had production problems that resulted in overly sheer yoga pants this spring. Comments by its founder regarding the body types of potential customers also angered some.

For the quarter ended Nov. 3, it earned $66.1 million, or 45 cents per share. That's up from $57.3 million, or 39 cents per share, a year ago.

Analysts had forecast 41 cents per share.

Revenue rose 20 percent to $379.9 million, above the $374.6 million Wall Street expected.

The stock fell more than 10 percent.

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