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    LULU   US5500211090

LULULEMON ATHLETICA INC.

(LULU)
End-of-day quote Toronto Stock Exchange  -  2013-06-23
63.77 CAD   -1.21%
09/28Sector Update: Consumer Discretionary Stocks Surging Wednesday
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09/28Sector Update: Consumer
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09/28Lululemon Athletica To Launch New Fitness Platform
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Lululemon pants back on shelves after see-through blunder fixed

06/03/2013 | 03:03pm EDT
Pedestrians walk past a Lululemon Athletica store in New York

TORONTO (Reuters) - Lululemon Athletica Inc (>> Lululemon Athletica Inc)'s black "Luon" pants are back on store shelves, the Canadian retailer said on Monday, following a highly-publicized recall in March after the fabric was deemed too transparent.

TORONTO (Reuters) - Lululemon Athletica Inc (>> Lululemon Athletica Inc)'s black "Luon" pants are back on store shelves, the Canadian retailer said on Monday, following a highly-publicized recall in March after the fabric was deemed too transparent.

The company warned in March that it could lose up to $40 million in profit this fiscal year after it pulled its snug-fitting black workout pants made with its signature Luon fabric from stores due to an "unacceptable level of sheerness."

The company has fixed the problem and will be increasing its inventory levels for the yoga pants throughout June, it said in an update on its investor website.

The fabric on the new pants has been put through rigorous testing, with adjustments "to ensure that the fabric will fit the body without being stretched beyond its capability," it added.

The recall sparked a slew of pun-filled headlines and sent the company's stock price down some 12 percent. The stock bottomed in late March and has bounced back nearly 28 percent to trade above where it was before the recall.

Shares were trading little changed at C$80.71 on Monday afternoon on the Toronto Stock Exchange.

The yoga-wear retailer has carved out a profitable niche selling trendy, pricey workout wear for women. It is among a select few Canadian retailers that has found success in the United States and is expanding in Europe and Asia over the next two years.

(Editing by Jeffrey Hodgson and Cynthia Osterman)

By Solarina Ho


© Reuters 2013
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Managers and Directors
Calvin R. McDonald Chief Executive Officer & Director
Meghan Frank Chief Financial Officer
Martha A. M. Morfitt Chairman
Julie Averill Chief Technology Officer
Shannon Higginson Chief Compliance Officer, General Counsel & SVP
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