Lululemon says first-quarter profit to fall on recall

TORONTO Thu Mar 21, 2013 7:29am EDT

Pedestrians walk past a Lululemon Athletica store in New York, March 19, 2013. REUTERS/Lucas Jackson

Pedestrians walk past a Lululemon Athletica store in New York, March 19, 2013.

Credit: Reuters/Lucas Jackson

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)

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