Lululemon Athletica Cuts Q4 Forecast

(RTTNews) - Canadian yogawear maker Lululemon Athletica, Inc. (LULU) said it is reducing its outlook for the fourth quarter, citing lower traffic and sales trends since the beginning of January.

For the fourth quarter, the company now expects net revenue of $513 million - $518 million, with comparable-store sales in the negative low-to-mid single digits on a constant-dollar basis. This compares to prior net revenue guidance of $535 million - $540 million, on flat comparable-store sales.

As a result, the company is lowering its fourth-quarter earnings per share outlook range to $0.71 - $0.73 from prior range $0.78 - $0.80.

Analysts polled by Thomson Reuters expect earnings per share of $0.79, on revenues of $542.52 million, for the quarter. Analysts' estimates typically exclude one-time items.