Lululemon Athletica's reported quarterly results that edged past expectations on Thursday, but the Canadian yogawear retailer trimmed its revenue and earnings forecast for the fiscal year.
The company, which announced a $450 million share buyback program, also said its Chief Financial Officer John Currie would retire by the end of the fiscal year, ending February 2015.
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Excluding a one-time adjustment for planned repatriation of foreign earnings, the company said its profit in the quarter was 34 cents a share. Analysts on average were expecting earnings of 32 cents a share according to Thomson Reuters I/B/E/S.
On a net basis, profit in the fiscal first quarter ended May 4, fell to $19 million, or 13 cents per share, down from $47.3 million, or 32 cents per share, a year earlier.