NEW YORK (TheStreet) -- Shares of Lululemon Athletica inch higher on Thursday despite the yoga apparel retailer issuing a first-quarter profit outlook below analysts' expectations.
Shares of Lululemon (LULU) were inching higher on Thursday after the yoga apparel retailer reported fourth-quarter earnings that were virtually unchanged from a year ago.
Lululemon reported earnings of $109.7 million, or 75 cents a share, for the period, beating the reduced profit forecast it issued in January of 71 cents to 73 cents a share.Looking forward, the company forecast first-quarter profit of 31 cents to 33 cents a share on revenue of $377 million to $382 million. The forecast fell short of analysts' expectations of profit of 38 cents a share on revenue of about $389 million, according to Thomson Reuters. Lululemon dealt with an array of challenges in 2013, including its decision to pull its black women's yoga pants from shelves after they were found to be too sheer.
WATCH: More videos from Brittany Umar In a statement, new CEO Laurent Potdevin called 2014 an investment year, with an emphasis on strengthening the company's foundation, reigniting its product engine and accelerating sustainable and controlled global expansion. At last check, shares of Lululemon were climbing about 0.5% to $48.23. In New York, I'm Brittany Umar for TheStreet. Written by Brittany Umar in New York.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV