VANCOUVER/BENGALURU (Reuters) - Yogawear maker Lululemon Athletica Inc said on Wednesday it expects profit margins to gradually improve into 2017 as it works through supply chain problems and an inventory build-up that hurt results and knocked its shares lower. The Vancouver-based company reported a lower-than-expected third quarter profit and cut its full-year earnings forecast as bloated inventories and expansion spending squeezed margins, sending shares down 8.7 percent to $47.60. Lululemon will hold two more warehouse sales in the fourth quarter to clear out its markdown items and said its search for a chief supply chain officer, tasked with fixing its supply chain problems, was well advanced.
