VANCOUVER - Lululemon Athletica Inc. (TSX:LLL) is warning that a shortage of its popular black Luon pants and crops will mean it will fall short of its sales guidance.
The company says some of the shipments from its factories from March 1 do not meet the brand's technical specifications and it is pulling the pants from its stores, showrooms and website.
Lululemon says the hip-hugging pants represented approximately 17 per cent of all women's bottoms in their stores.
Shoppers who bought black Luon pants after March 1, either online or in stores, and believe they have a defective product are welcome to return the pants, the company says.
Up to March 17, Lululemon says it was on track for 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.