TORONTO, Dec 11 (Reuters) - Lululemon Athletica Inc reported a higher quarterly profit as sales gains from the clothier's new stores outstripped a weaker Canadian dollar and economic downturn, but the company cut its full year outlook as it braced for tough times.

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The trendy retailer earned $8.8 million, or 13 cents a share, in the third quarter ending Oct 31, up from $7.6 million, or 11 cents a share for the same time last year. ($1=$1.25 Canadian) (Reporting by Scott Anderson; Editing by Derek Caney)