TORONTO Jan 14 Lululemon Athletica Inc's
same-store sales of menswear and apparel for young
girls and e-commerce revenue are still rising, Chief Financial
Officer John Currie said on Tuesday, the day after the high-end
yogawear retailer warned about quarterly results.
The company said on Monday that sales at established stores
would probably fall in its latest quarter, the first
year-on-year drop since 2009.
But Currie said at the ICR XChange Conference that if sales
at existing stores were combined with positive e-commerce sales,
this "translates to low-single-digit positive comp."
The company's stock dropped as much as 18 percent on Monday
after it warned same-store sales, revenue and earnings in the
fourth quarter ending Feb. 2 would be lower than forecast in
December because traffic and sales in January slowed
Currie said the lowered outlook overshadowed positive news,
including low double-digit same-store sales growth for its men's
and young girls' business segments.
Shares of Lululemon were down 0.7 percent at $49.33 in
afternoon trading on Tuesday