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Lululemon warns Luon pants and crops shortage will hurt sales in first quarter

VANCOUVER – Lululemon Athletica Inc. (TSX:LLL) warned Monday that a shortage of its popular black Luon pants and crops will mean it will fall short of its sales guidance. The company said up to March 17 the company was tracking to a comparable-store sales increase of 11 per cent on a constant dollar basis and revenue in a range of $350 million to $355 million for the first quarter of the year. Lululemon now expects comparable-store sales to be up five to eight per cent and revenue in a range of $333 million to $343 million.

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