Lululemon raises profit forecast, shares jump

Lululemon Athletica expects profit and sales in the current quarter to top earlier forecasts after holiday shoppers flocked to its shops to snap up the trendy yoga wear that have made the company a runaway retail success story.

Shares of the Vancouver-based retailer jumped 15 percent on Tuesday after the fresh forecast, which validated the optimism of observers who had thought the company's earlier sales forecast was too conservative.

Sales at established stores, a key measure for retailers, are now expected to rise more than 20 percent in its fiscal fourth quarter ending January 29. That's further evidence the company has addressed the problem of inadequate inventories at its 165 stores in North America and Australia.

Read Full Article from Reuters Canada

- Posted: 2012-01-10 12:57:03

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