June 1 (Reuters) - Lululemon Athletica Inc LULU.O
* Lululemon athletica inc. Announces first quarter fiscal 2017 results and plan to restructure its ivivva operations
* Q1 adjusted earnings per share $0.32 excluding items
* Q1 earnings per share $0.23
* Sees q2 2017 revenue $565 million to $570 million
* Sees fy 2017 revenue $2.53 billion to $2.58 billion
* Q1 revenue $520.3 million versus i/b/e/s view $514.1 million
* Sees q2 2017 adjusted earnings per share $0.33 to $0.35 excluding items
* Sees fy 2017 adjusted earnings per share $2.28 to $2.38 excluding items
* Sees fy 2017 earnings per share $1.97 to $2.07
* Sees q2 2017 earnings per share $0.13 to $0.15
* Qtrly total comparable sales decreased 1%, or decreased by 1% on a constant dollar basis.
* Q1 earnings per share view $0.27 -- Thomson Reuters I/B/E/S
* Qtrly direct to consumer net revenue was flat, and was flat on a constant dollar basis.
* Lululemon athletica inc sees q2 total comparable sales increase in low-to-mid single digits on a constant dollar basis
* Lululemon athletica inc sees fy total comparable sales increase in low-single digits on a constant dollar basis
* Lululemon athletica inc- inventories at end of q1 of fiscal 2017 increased by 6% to $303.9 million compared to $286.2 million at end of q1 of fiscal 2016
* Lululemon athletica-in connection with restructuring of ivivva operations, expect to recognize total pre-tax costs of between $50.0 million and $60.0 million in fy 2017
* Q2 earnings per share view $0.41, revenue view $560.1 million -- Thomson Reuters I/B/E/S
* Fy2018 earnings per share view $2.31, revenue view $2.56 billion -- Thomson Reuters I/B/E/S
* Lululemon athletica - plans to close about 40 of its 55 ivivva branded stores, to convert about half of remaining stores to lululemon branded stores
* Lululemon athletica inc- company plans to operate ivivva, its activewear brand for girls, as a primarily e-commerce focused business
* Lululemon athletica - will also close all of its ivivva branded showrooms and other temporary locations, will streamline its corporate infrastructure
* Lululemon athletica inc- anticipated that closures and restructuring will be substantially complete by end of q3 of fiscal 2017
* Lululemon athletica inc- in connection with restructuring plan, company recognized pre-tax costs totaling $17.7 million in q1 of fiscal 2017 Source text for Eikon: ID:nBw2lTvW7a Further company coverage: LULU.O