Please go ahead. Embrace hands-free happiness with our edit of bags for workouts and hangouts. And how do you think that the overall environment will respond to a situation where everybody is being challenged by supply chain issues in Asia? If I could just ask one more question, switching gears for a second. Absolutely, Mark, and thanks for the question. Two experiential stores were opened last year in Chicago and the Mall of America near Minneapolis that provide locker rooms, healthy foods, and an enhanced shopping experience. The strength of our brand and strong financial position will help us manage through the day-to-day, while continuing to effectively plan for and invest in our future." New Zealand Before we get started, I'd like to take this opportunity to remind you that our remarks today will include forward-looking statements reflecting management's current forecast of certain aspects of Lululemon future. I would now like to speak to our supply chain about the issues facing the entire industry. Any forward-looking statements that we make on this call are based on assumptions as of today, and we expressly disclaim any obligation or undertaking to update or revise any of these statements as a result of new information for future events. The average price target is $469.34 with a high forecast of $548.00 and a low . VANCOUVER, British Columbia, March 29, 2022--lululemon athletica inc. (NASDAQ:LULU) today announced financial results for the fourth quarter and fiscal year ended January 30, 2022. Our vertically integrated model and high margin structure allows us to use more airfreight while still delivering gross margin expansion. We believe these adjusted financial measures are useful to investors in evaluating the trend in our operating performance as the adjustments do not directly relate to our ongoing business operations. It is you who brings our brand to life every day and enables our strong financial results. From a performance standpoint, our momentum continued across categories with women's revenue increasing 26% and men's growing 31% on a two-year CAGR basis. As a reminder, all participants are in listen-only mode and the conference is being recorded. This is below our expectations for a 25% to 30% increase due to our top-line outperformance coupled with industrywide supply chain disruptions. And it's a reflection of building deeper relationships with our existing guys and spending more and continuing to acquire and bring in a new male guest into the business, and we will share the role men's plays in our future growth plans early next year when we sort of reset but it continues to be very strong across all markets around the globe, it's driven both by current spending more and our acquisition of new guests. Company-operated Store Count and Square Footage1 Joseph Teklits Fulfilled all retail clerk duties in a high volume, high traffic store with over 100K weekly sales. . October 28, 2020. lululemon released its first-ever Impact Agenda detailing the company's long-term strategy to become a more sustainable and equitable business, minimize its environmental impact, and accelerate positive change both internally and externally. Adjusted net income for the quarter was $216 million or $1.65 per diluted share, compared to adjusted earnings per diluted share of $0.74 in Q2 of 2020 and $0.96 in Q2 of 2019. So for Q3, we are planning to be slightly above last year -- of 2019 level for the quarter. There are obviously between bottoms and tops and shorts and outerwear and some of the accessories. And the membership tests, although very effective, the challenge, COVID aside, was that it was challenged to scale, it was rooted in physical, and we couldn't offer it everywhere. Watch the Replay. Our success was our people, and honouring commitments to our landlords and vendors. Thank you and good afternoon. hTmO0+ EJ_B(e4&7qhiR%.H}sw< yH($#%qd%^`pN#BYhP.ISG0R#F 0F`Xeu^T^ Am =$^G$u^R"^:)EZxkrLFZ)?a>hS2e7Y1\ 1D7X?Z.YZj~@|bd$9zRj)T#a at the end of fiscal 2018. Lululemon - Investor Presentations and Pitch Decks. We will soon introduce MIRROR to guests in Canada, where Lululemon has an impressive level of recognition. And if I could just follow up with a question for Meghan on the SG&A leverage outlook, there are a lot of moving pieces within the outlook, some investments in brand-building, higher wages. We'll continue monitoring the rising costs associated with CAC while we move ahead with launching exciting new innovations and leveraging the synergies Lululemon brings to the relationship. Hi, thank you. the Quarter, Total Gross The data we automatically collect includes your IP address, browser type, access times, pages viewed, the frequency of your visits to our websites, the routes by which you access our websites, and your use of any hyperlinks available on our websites. The company is building a powerful brand built on grassroots initiatives and millions of loyal customers. So excited about what the future continues to hold for our international business. And the program was embraced by men at a higher rate than we were expecting. Still, with the stock trading at a frothy price-to-earnings (P/E) ratio of 64 times forward earnings estimates, some investors might be tempted to lock in a big short-term gain. Hi. Welcome to our Investors page. Lululemon Athletica. Cost basis and return based on previous market day close. Subsequent to If you do link your social media account to our social media account, the social media service may share certain data about you and your activities with us in accordance with their privacy policies and your privacy settings on their services. at the End of Drivers of the deleverage versus 2019 include consolidation of MIRROR's results this year but not in 2019, increased investments in brand-building for our growth initiatives and higher depreciation due to accelerating investment to support our e-commerce business in 2020 and 2021. U!4j*54U3 , @nl @:}"eAzd&;Y:2;k/>2C DK;zc$aFCpHV4. lululemon released its first-ever Impact Agenda detailing the companys long-term strategy to become a more sustainable and equitable business, minimize its environmental impact, and accelerate positive change both internally and externally. The Investor Relations website contains information about Canada Goose Inc.'s business for stockholders, potential investors, and financial analysts. Relative to 2019, our gross margin is benefiting from a higher e-com penetration and leverage on occupancy and depreciation. Introducing new pant fabrics and styles that deliver athletic innovation for everyday life. endstream endobj 1932 0 obj <>stream U.S. Outside of a paid subscription, the opportunity around loyalty absolutely exists and is something that we will share later as we share our plans for the future. A transcript of the meeting will be available here. Quarter. Thank you. In terms of gross margin, a 150 basis points to 200 basis points, expansion was where we guided for the full year. Lorraine Hutchinson -- Bank of America Merrill Lynch -- Analyst. Calvin McDonald / In Atlanta, we co-hosted a charity event created in partnership with leading Atlanta fitness influencers, Mecca Day and EJ Houston. Flying on the latest positive earnings results, Lululemon Athletica ( NASDAQ: LULU ) reached an impressive US$50b market cap in the last week. February 2, 2020 Canada-based Lululemon completed the acquisition July 7. Please note that our websites contain links to third-party websites that are not controlled or operated by lululemon. These statements are based on management's current expectations but they involve a number of risks and uncertainties. Just last week, we continued to build out our yoga offering through the introduction of the Instill franchise. For more information about our privacy practices in another jurisdiction, please refer to the privacy policy available in our stores, or posted on our website, for that jurisdiction. Due to the 53rd week in fiscal 2018, the below changes in total comparable sales, comparable store sales, and direct to consumer net revenue are calculated on a one week shifted basis such that the 52 weeks ended People Who Make Our Products: Achieve Fair Labor Association (FLA) accreditation, and make empowerment programs available to more than 100,000 makers across our supply chain by 2025. Investors expected lululemon athletica (LULU 1.66%) to deliver a large increase in revenue over the year-ago weakness, . Any impact on their spend. Thank you. It also excludes the impact of any future share repurchases. It's what separates us from others and I don't see that changing with the landscape of who's out there and who owns whose out there. Thank you, Brooke. $1.1 billion And the growth targets within that are what you should continue to look forward beyond 21, but we do plan to come back with our long-term thinking next year and share more with you at that point. We're just ramping up synergies, like the 200 stores that play to our strength in the key leads in each of those locations. Thanks, John. The next question comes from Lorraine Hutchinson with Bank of America. Let me now shift to MIRROR. February 2, 2020 Hi, Michael, I'll take the first part of that question. And I'll start there because I think those to me are the most important and signal the health and the engagement of the community both with each other as well as near the product. On June 29, 2020, Lululemon announced its intention not to be left behind. And now, back to Calvin for some closing remarks. Hi, Brooke. Tesla shares tumbled after Wednesday's investor day was scant on details about future vehicles. . Celeste? And those scenarios played out. Check your inbox: your 10% off code is on its way. Please note that we provide different or additional privacy notices in connection with certain activities, programs, and offerings. Mark Altschwager -- Robert W. Baird -- Analyst. February 2, 2020 This was an incredible shift that reflects Lululemon's loyal customer base and a strong response to its latest products. June 24, 2020 . Good. Great. Sign up now! These include our participation in the Mylo consortium that will allow us to make products using an infinitely renewable material made from the root structure of mushrooms. Q2 spend relates primarily to store capital for new locations, relocation and renovations, supply chain investment, and technology spend to support our business growth. 02/09/23. And we always had visions of being able to bring that to the digital platform. Earnings, U.S. Here you will find key information and financial reports, putting the performance of lululemon athletica inc into perspective for you. Adjusted operating income for the quarter was $299 million or 20.6% of net revenue compared to 15% of net revenue in Q2 2020, and 19% of net revenue in Q2, 2019. *Stock Advisor returns as of August 9, 2021. If we make changes, we will notify you by revising the date at the top of this Privacy Policy. %PDF-1.6 % Vendor Code of Ethics; Conducting Assessments & Remediation; Working With Our Suppliers to Create Meaningful Change; Programs to Build Better We are updating our guidance for the full year. Auto Parts . We have our eyes on the long game with MIRROR and the community we're building. Buy These 2 Stocks in 2023 and Hold for the Next Decade, Warren Buffett's Latest $2.9 Billion Buy Brings His Total Investment in This Stock to $66 Billion in 4 Years, If You Invested $1,000 in Nvidia in 1999, Here's the Shocking Amount You Would Have Now, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. U.S. Before handing it back to Calvin, I want to express my gratitude to the entire Lululemon collective. in cash and cash equivalents compared to And in terms of overall international profitability, we are profitable overall on international, and still, see a lot of opportunities there relative to the maturation of the international business in terms of its comparison to North America, particularly pleased with the growth rate we're experiencing in China, and see opportunities for both revenue and gross margin expansion and operating margin as that business expands. 1. We may also disclose your personal data with applicable regulators or other authorities when we believe doing so is reasonably necessary to comply with applicable law or legal process (including requests from authorities), to respond to claims (including inquiries by you in connection with your purchases from lululemon), or to protect the rights, property or personal safety of lululemon, our users, employees or the public. You can refer to our earnings release for more information and reconciliations to our GAAP metrics. *Average returns of all recommendations since inception. We prioritized our people and kept our teams intact by offering pay production, sick pay, and other key people investments. EVP Celeste Burgoyne makes a pledge to offer leading mental wellbeing benefits to employees. And in terms of breakeven, we haven't put a fine point on that, but we are focused as Calvin mentioned, unrolling and initiatives for 2021, including store ramps, Canada entry, and e-commerce, let's say, rebound. Bras remained an important expansion opportunity for us. Water and Waste: Reduce freshwater use intensity by 50 percent to manufacture our products, and reduce single-use plastic packaging by 50 percent by 2025. Profitability improved as this pipeline of releases more than offset . The next question comes from Michael Binetti with Credit Suisse. lululemon athletica UK Ltd, located at Garden House, 57-59 Long Acre, London, WC2E 9JL (lululemon, we or us) are the data controller for the personal data we process about you in connection with the Promotion. I'm very pleased to achieve this milestone faster than we anticipated. 10% WELCOME OFFER: Fair Processing Notice. [Operator instructions] And now, I'd like to turn the call over to Cal. Employee Leadership Offerings: Be the place where people come to develop and grow as leaders for the world by 2023. 0001172661-23-001474.pdf. Investor Presentation. lululemon.com. Our supply chain and product teams are working diligently to mitigate these risks by shifting production out of Vietnam where possible with our vendors who operate in multiple countries, prioritizing production to ensure key fall holiday styles are produced first, and strategically increasing our use of airfreight. Thank you for standing by, this is the conference operator. lululemon athletica1818 Cornwall AveVancouver BCV6J 1C7, Working With Our Suppliers to Create Meaningful Change, lululemon athletica inc. World Health Organization ; our ability to successfully open new store locations in a timely manner; our ability to comply with trade and other regulations; the service of our senior management; seasonality; fluctuations in foreign currency exchange rates; conflicting trademarks and the prevention of sale of certain products; our exposure to various types of litigation; actions of activist stockholders; anti-takeover provisions in our certificate of incorporation and bylaws; and other risks and uncertainties set out in filings made from time to time with the 24. Announces Third Quarter Fiscal 2022 Results, lululemon athletica inc. The specific purposes for which we process your personal data are set out below: To administer your online account and profile (the legal basis for this processing is our legitimate interest in better understanding user needs and expectations and improving our website); To provide products and services to you, which includes processing payments, sending notifications related to your purchases, and processing exchanges and returns (the legal basis for this processing is the performance of the purchase agreement between you and lululemon); To conduct or administer events, contests, prize draws, sweepstakes or other promotions in which you have participated (the legal basis for this processing is the performance of the agreement between you and lululemon related to such contest, prize draw, sweepstakes or other promotion); To respond to any communications from you, including to troubleshoot problems with our websites (the legal basis for this processing is our legitimate interest in providing you with a functional website); To analyse your use of and customise your experience on our websites (the legal basis for this processing is our legitimate interest in better understanding user needs and expectations and improving our websites); To develop and manage lululemon's business and operations (the legal basis for this processing is our legitimate interest in understanding shopping behaviour, improving our selection of products and services, and exploring ways to develop and enhance our business); To measure your social media engagement with our brand (the legal basis for this processing is our legitimate interest in understanding the efficacy of our marketing strategies); To detect, investigate and prevent fraudulent transactions, error, negligence, breach of contract, and other illegal activities and protect against harm to the rights, property or safety of lululemon and our users, customers, employees or the public, including by using video surveillance systems (the legal basis for this processing is our legitimate interest in preventing fraud, error, negligence, contractual breach and other illegal activities and protecting and securing our premises,customers, employees and the public); To comply with our legal obligations, including our tax obligations, those related to the prevention of fraud and money laundering, and those required for you to benefit from rights recognized by law, or any regulatory requirements or provisions (the legal basis for this processing is compliance with our legal obligations under laws in the EEA and Switzerland related to, for instance, taxation, money-laundering and terrorism financing and consumer protection law); To offer you opportunities to purchase products or services that we believe may be of interest to you, by supplementing the information we collect about you with information from third parties (the legal basis for this processing is our legitimate interest in providing information about products and services that may be of interest to you, unless applicable law requires us to obtain your consent, in which case we will do so). Description. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Thanks, Jay. We continue to expect to open 45 to 55 net new company-operated stores in 2021. We recently opened our second production studio in New York, allowing us to double the number of live classes, and MIRROR will launch a new e-commerce site in time for the holiday season this year. Consumer Net CEO Elon Musk took the stage to share his "Master Plan 3," and to discuss how Tesla plans to . It's made from a proprietary Ultralu fabric and expands our offering into the high-impact training category. I was just curious. hTA0 nCms!B4 CG/=jL;;DAV The cost of profitability therefrom MIRROR is very much within our control, and we're investing behind the strength and momentum of that -- in that business as well as our overall financial strength, and we'll share more as we move through the peak holiday season and into '22. Malaysia Twelve commitments detail specific actions across a range of global issues including diversity and inclusion, mental wellbeing, climate change, and circularity. I will also discuss specifics on our balance sheet, including our cash position, liquidity, and inventory. So it's pretty fluid, Matt, and we're comfortable -- sorry, Jay, very fluid and we're comfortable with sort of how we're positioned today in addressing it, but all and any pricing changes would be in Meghan's guidance and there's nothing of significant plan or that you should expect. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Sumner, WA. Thanks and congrats on another great quarter. Hi, Lorraine. ~^C`llhH5vY]-#~0 b $881.3 million Please note that our websites and communications may contain links to third-party websites that are not controlled or operated by lululemon. You understand that any messages or information you send to our websites may be read or intercepted by others. I continue to be very encouraged with the usage numbers and engagement numbers that we're seeing with the MIRROR community. One, starting with our product, the premium nature of it, the focus and obsession on innovation through the science of feel that truly creates a product that performs in a unique way to the guests and provides a sensorial experience that's unique and different with the quality that they know they're getting for what they buy and pay. The US$500-million acquisition of Mirror was an "an important step in our strategy," said CEO McDonald. People Who Make Our Products Sub Navigation. June 2020 13 slides . We believe continue to be unique differentiators and drivers of the brand and have obviously been in place and fuel the growth that we've seen so far. We do not share personal data about you with third parties except as follows: a.Our affiliates and subsidiaries. For all other inquiries, please contact[emailprotected]. A new infographic covers how the company achieved global gender pay equity, gender representation statistics, and continued commitments to pay equity. inc. Two quick ones, I guess, on gross margin sustainability. This helps us to provide you with a good experience when you browse our websites and allows us to improve our websites.

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