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UPDATE 1-Yogawear retailer Lululemon's quarterly profit falls 12 pct

Published 2015-12-09, 06:01 a/m
© Reuters. UPDATE 1-Yogawear retailer Lululemon's quarterly profit falls 12 pct
LULU
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(Adds details, outlook)
Dec 9 (Reuters) - Canadian yogawear retailer Lululemon
Athletica Inc LULU.O reported a 12 percent fall in
third-quarter profit as costs soared.
Gross profit as a percent of net revenue fell to 46.9
percent in the three months ended Nov. 1 from 50.3 percent a
year earlier.
Selling, general and administrative expenses rose 20.5
percent to $156.6 million, while cost of goods sold rose 22.4
percent to $254.9 million.
The company's net income fell to $53.2 million, or 38 cents
per share from $60.5 million, or 42 cents per share, a year
earlier. However, revenue rose 14.4 percent to $479.7 million.
Lululemon cut the upper end of full-year revenue estimate to
$2.03 billion-$2.04 billion from $2.03 billion-$2.06 billion.

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