Lululemon says first-quarter profit to fall on recall
TORONTO (Reuters) - Yogawear retailer Lululemon Athletica Inc LLL.TO said on Thursday it expects its earnings to fall in the current quarter, hurt by the product recall announced on Monday.
The Canadian company forecast first-quarter earnings per share between 28 cents and 30 cents, down from 32 cents a year earlier.
Lululemon said on Monday it was taking many of its stretchy pants off store shelves because it had discovered that they were too transparent.
(Reporting by Allison Martell; Editing by Maureen Bavdek)
- Citing security threat, Obama expands U.S. role fighting Ebola
- Tesla prevails in top Massachusetts court over direct sales
- Russia needs government investment to avoid recession, says former finance minister
- Boeing, SpaceX win contracts to build 'space taxis' for NASA
- Stocks end higher on bet Fed won't change rate stance