Lululemon yoga wear company reports a lower Q1 profit but higher revenues

VANCOUVER – Lululemon Athletica Inc. reports a lower first-quarter profit of $19 million compared with $47.2 million during the same quarter last year. Diluted earnings per share for the quarter were 13 cents compared with 32 cents year-over-year. Net revenue for the quarter increased 11 per cent to $384.6 million from $345.8 million. The yoga wear company says its board of directors has approved a stock buy-back program up to $450 million of its common shares.

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