Posted: Mar 21, 2013 6:59 AM
Updated: Mar 21, 2013 6:59 AM
NEW YORK (AP) Yoga wear maker Lululemon Athletica is reporting fourth-quarter results that beat Wall Street expectations.
But the Canadian company says its decision this week to pull its popular black yoga pants off the shelves because the fabric showed off too much of their wearers will dent their financial results for this year.
On Monday, Lululemon announced that it pulled the pants from its stores and online after it found out that the fabric used to make them was too sheer.
But its results for the fourth quarter which covered a period that had ended before it stopped selling the pants topped analysts' estimates. Its shares rose 52 cents to $64.40 in premarket trading.