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Lululemon Tumbles as Revenues Disappoint

Lululemon Athletica is down sharply today after its third-quarter revenues didn't increase as much as analysts had expected.

The Canadian yogawear maker says sales rose 31 percent to $230.2 million in the three months ending Oct. 30.

The consensus analyst forecast called for $235.7 million.

Same-store sales increased 16 percent, down from a 20 percent gain in the previous quarter, and the company is forecasting fourth-quarter growth in the low- to mid-teens.

After spectacular gains from the low single-digits in early 2009, the stock has now lost about a third of its value from a 52-week high of $64.49 in July.

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