Lululemon Athletica Inc., based in Vancouver, British Columbia, cut its first-quarter revenue forecast as a result of its decision to withdraw the pants. The company now anticipates first-quarter revenue between $333 million and $343 million. Its prior guidance was for $350 million to $355 million. Analysts polled by FactSet expect revenue of $352.1 million.
It also lowered its first-quarter outlook for comparable store revenues, from 11 percent, to between 5 percent and 8 percent.
Lululemon is offering full refunds or exchanges to customers.
Its shares dropped $3.41, or 5.2 percent, to $62.49 in late morning trading Tuesday.
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