Lululemon's quarterly profit plunges 60 percent, CFO to retire

Reuters

Lululemon's profit plunges 60 pct.

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(Reuters) - Canadian yogawear retailer Lululemon Athletica Inc's (LULU.O) quarterly net profit fell 60 percent as tax expenses rose.

The company also said its Chief Financial Officer John Currie would retire by the end of the fiscal year, ending February 2015.

Lululemon's net profit fell to $19 million, or 13 cents per share, in the first quarter ended May 4 from $47.3 million, or 32 cents per share, a year earlier.

Revenue rose 11 percent to $384.6 million.

(Reporting by Shubhankar Chakravorty in Bangalore; Editing by Kirti Pandey)

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