Europe Straight to your inbox. North America We now expect our fiscal year 2021 adjusted diluted earnings per share to be in the range of $7.38 to $7.48. Circularity: Offer our guests new options to extend the life of our products by 2025. We are really proud to be able to bring the Lululemon brand to our guests in these unique and compelling ways, and we're excited about what is yet to come. I'll actually take that. Trending: Addressable Market . Fantastic. Gross margin was 58.0%, an increase of 70 basis points compared to the fourth quarter of fiscal 2018. From a product standpoint, I'd like to take a moment to highlight two key launches, the AirSupport Bra, and our latest yoga franchise, Instill. And with that, we'll be happy to take your questions. . ET. Feet Added lululemon. Looking at the second quarter, our results reflected broad-based strength across our channels, regions, and product categories. Lululemon saw encouraging demand for its core products, in addition to its launches in new lines like menswear and outerwear. You may have the option to link your social media account to our social media account (such as on Facebook). rather than Gross margin was 55.9%, an increase of 70 basis points compared to fiscal 2018. Jul 2021 - Present1 year 9 months. The strategy is organized into three interconnected areas of focusBe Human, Be Well, and Be Planetwith 12 goals to drive progress. the United States 2020 was a year unlike any otherand it presented both challenges and opportunities as world events shifted around us. Setting the bar in technical fabrics and functional designs, Our momentum continued in Q2 with our top and bottom-line results exceeding our expectations. 6. h|]k\7~AV}!EJbrMv(}Gg64fW9GH)'FGNL5NgJD &b-Tj TN%O( .PF$r Demitri Kalogeropoulos owns . Currently, the category represents mid-single-digit penetration, and we see an opportunity to grow this category into the low to mid-teens in the coming years. The Black Lives Matter movement acted as a powerful catalyst within lululemon. The underlying demand for our brand is strong. So it is a very important driver of innovation for our business. Please go ahead. lululemon.com. We share personal data with third parties when we have your consent to do so. 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. EVP Celeste Burgoyne makes a pledge to offer leading mental wellbeing benefits to employees. Before I hand it over to Meghan, I'd like to speak for a minute on labor and what we're seeing regarding store and call center staffing. (Non-GAAP), Tax on As Calvin mentioned, sales trends remain positive with total digital comp up 4% in Q2. the Quarter, Number of But really pleased overall, I would say, with the operating flow-through of our business and remain on track to Power 3 growth plan as we've discussed. Our Unique Proposition; News & Events. endstream endobj 1933 0 obj <>stream Our focus on technical athletic apparel allows us to benefit from trends in consumer behavior that are becoming more important year after year, and our inventory, which leverages many key core styles with less seasonality, helps us navigate and mitigate disruptions within the supply chain. Can you talk about your confidence in sustaining this level beyond the recovery period and what we should think about puts and takes for gross margin just thematically as we look out beyond '21? Please, go ahead. I'm proud of our recent announcements to develop advanced raw materials that will help us live into our goals and create a healthier world. We expect adjusted earnings per share in the third quarter to be in the range of $1.33 to $1.38 versus adjusted EPS of $1.16 a year ago. A reconciliation of GAAP to non-GAAP measures is included in our quarterly report on Form 10-Q and in today's earnings press release. And we've established multi-year targets. Dec 10, 2020. To the extent possible, the team is looking to multi-source and leverage other countries, as well as prioritize fall holiday key styles to the best of their ability, and airfreight is a muscle that as a growth company, we often leverage and we continue to do so as we navigate the supply chain challenges in the second half. And the second is the power of human connection through our educators through the strength of our community and the investments we make at grassroots through our people, through our ambassador community, and then the exciting addition of MIRROR into that community. The company has a grassroots foundation driving the growth of the brand. I am proud of our leaders and teams for enabling us to meet and exceed these goals. If investors had decided that Nike stock was overvalued and sold their shares, they would have missed a 4,000% gain over the next 25 years. While in another jurisdiction for processing, your personal data may be accessed by the courts, law enforcement, and national security authorities of that jurisdiction. 02/17/21. hTmO0+ EJ_B(e4&7qhiR%.H}sw< yH($#%qd%^`pN#BYhP.ISG0R#F 0F`Xeu^T^ Am =$^G$u^R"^:)EZxkrLFZ)?a>hS2e7Y1\ 1D7X?Z.YZj~@|bd$9zRj)T#a Our freshest gear. For the reasons set forth in this Privacy Policy, the personal data that we collect may be transferred to and stored or otherwise processed by our holding company, corporate affiliates, subsidiaries, and service providers outside of Switzerland and the EEA, including (but not limited to) in the United States, Canada or Australia. Feet Lost Let me now share with you the details of our Q2 performance. Celeste? [Operator instructions] And now, I'd like to turn the call over to Cal. inc. And based upon this revised forecast, I am pleased to share that we will surpass our 2023 revenue target by the end of this year, two years ahead of schedule. China, in particular, is a market where we have leaned in on an investment. Hi, Lorraine. The reduction relative to last year is due primarily to deductions related to stock-based compensation. 10 stocks we like better thanLululemon AthleticaWhen our award-winning analyst team hasa stock tip, it can pay to listen. I'll break it into two things. And I think that combined with our ability to gain market share against our competitors is helping to fuel the business, and will continue as we look forward to the years. 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. We now have MIRROR shop-in-shops in a 150 Lululemon store, and our plans call for 200 shops in time for the holiday season. Speaking of the outlook, Lululemon reinstated a detailed annual forecast for the first time since the pandemic started. If we make changes, we will notify you by revising the date at the top of this Privacy Policy. Calvin McDonald -- Chief Executive Officer. of the Quarter, Gross Square We may disclose your personal data to our holding company, subsidiaries and affiliates, including lululemon athletica inc., lululemon usa inc. and lululemon athletica canada inc., for the purposes described above. Quarter Ended You understand that any messages or information you send to our websites may be read or intercepted by others. First, we grew total revenue 28% on a two-year CAGR basis to $1.5 billion. The adjustments relate to the amounts recognized in connection with We saw strong performance in our nonscrubs business, which increased 59%. There will be some -- likely some puts and ticks in the margin as we move forward, and we do remain committed to the margin target that was in our Power 3 growth plan of modest expansion annually. The new Navigation Stretch Down Collection is technically designed to keep you moving comfortably in winter conditions. World Health Organization Please go ahead. If we make material changes to this Privacy Policy, we will provide you with additional notice (such as adding a statement to our websites homepages or sending you a notification). These locations currently remain closed. February 3, 2019, Adjusted We're early, we're thinking long term, and that convergence was natural. If youre looking to ship to somewhere else, please choose your country. Good afternoon and congratulations. We continue to be pleased with the performance of MIRROR, and let me highlight several initiatives we have on track for this year. You said you were back in 2019 levels in the second quarter, which was ahead of plan, how are you planning for productivity for open stores in the back half? March 26, 2020 So in terms of the supply chain, we are assuming that Southern Vietnam begins of Phase 3 opening mid-September and that's what's implied in our guidance. Berkshire's profit plummeted by 91 per cent. Unaudited; Expressed in thousands, except per share amounts, Constant dollar changes in net revenue, total comparable sales, comparable store sales, and direct to consumer net revenue. We may also wish to further use your personal data in promotional or marketing materials. Key Takeaways. Please go ahead. Labor Department . The presentations will be broadcast live over the internet beginning at 9:00 AM ET and can be accessed on the investor relations section of Company's website, www.lululemon.com. We collect personal data from you in connection with your access to and use of our websites, your in-store or online purchases of our products or services, or if you provide us with personal data through other channels or media, such as social media or an event registration service.In particular, we collect personal data directly from you in connection with the following activities: Registering for an account or filling in forms on our websites or in our stores (this includes information you provide when you request additional information, in writing or verbally, about our products or services or sign up to receive our e-mail newsletters, marketing messages or coupons); Completing a profile or uploading goals to our websites; Interacting with us on social media, such as by tagging us and/or our products, or permitting us to follow your social media profile; Purchasing any product or service from us;Providing design or product feedback or making other submissions to us; Requesting information or assistance from us, including correspondence with our customer service team and through social media; Participating in or responding to surveys or requests for opinions, feedback and preferences regarding our products and services; Participating in or registering for events, consumer contests, sweepstakes and other promotions; Using other features of our websites that may be offered from time to time, which may require such information in order to utilise the feature. Results are great. . View source version on businesswire.com: https://www.businesswire.com/news/home/20200326005653/en/, Investors: Thanks. These jurisdictions may not provide the same level of data protection as your home jurisdiction and may not be considered by the European Commission to offer adequate protections for personal data. Questions or comments about this Privacy Policy and or data protection practices should be directedhere. So there's been a lot of fantastic innovations and partnerships in that space with the pilot around our resell program, the partnerships, be it with Mylo, LanzaTech, or Genomatica announced this past quarter in the SuperCluster. And you've heard me say this before, this brand is early innings across products with activities, where we focus on run train yoga in OTM, categories within those activities, and both our men's and women's business. Bras remained an important expansion opportunity for us. Those costs in the market are rising, which has an impact, ultimately, onto CAC. We respect your privacy and won't spam you. Lululemon was reporting strong revenue growth before COVID-19 while also seeing improving margins and growing earnings. Our Purpose, Vision & Values . Lululemon had a high guest retention rate of 92% among its top 20% of spenders. So very excited about how -- any guest, any member that purchases it, is using it, and all the things we love about it, the versatility, the genre, and appeal to a number are all playing out, as well as our conversion numbers are very healthy. So I think that embedded about 1,000 to 1,500 basis points of margin expansion in international. Michael Binetti -- Credit Suisse -- Analyst. Comparable Thanks and congrats on another great quarter. We will provide additional updates as the situation warrants. Since our service providers are located around the world, please note that these disclosures involve cross-border transfers of your personal data as described in the Data Transfers section BELOW. Thank you. Our Unique Proposition. [Operator instructions] The first question comes from Adrienne Yih with Barclays. We look for opportunities both where we could price up to and/or price down to be positioned in the marketplace based on assortment in range work. I'm happy to be on the call today to speak to our omni guest experience pillar, and to share some additional details on our second-quarter performance. Direct to The forward-looking statements made herein speak only as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances, except as may be required by law. Amounts That being said, we are carefully monitoring the current developments in labor markets, particularly in North America, and we remain committed to doing what's right for our store and DC team. 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. I continue to be very encouraged with the usage numbers and engagement numbers that we're seeing with the MIRROR community. Here you will find key information and financial reports, putting the performance of lululemon athletica inc into perspective for you. Lululemon was reporting strong revenue growth before COVID-19 while also seeing improving margins and growing earnings. Relative to 2019, our gross margin is benefiting from a higher e-com penetration and leverage on occupancy and depreciation. The learnings from our membership test are considerable. You see a slight variance in growth, but overall, they're all double-digit, all very strong. Consider that in fiscal 1994, Nikesales declined 3.6% to $3.79 billion. That's helpful. You can refer to our earnings release for more information and reconciliations to our GAAP metrics. These results reflect the ongoing strength across all major areas of the business. Be first to know about our newest products, limited-time offers, community events, and more. In Q2, we repurchased 506,000 shares at an average price of $338. There are obviously between bottoms and tops and shorts and outerwear and some of the accessories. inc. (NASDAQ:LULU) is a healthy lifestyle inspired athletic apparel company for yoga, running, training, and most other sweaty pursuits, creating transformational products and experiences which enable people to live a life they love. Reform, Fiscal Year Ended Updates Revenue and Earnings Expectations for the Fourth Quarter Ahead of the ICR Conference, lululemon athletica inc. Investors expected lululemon athletica (LULU 1.66%) to deliver a large increase in revenue over the year-ago weakness, . Quarterly Infographic PDF. Sign Up. Calvin McDonald Early innings is a great thing. 11. So for Q3, we are planning to be slightly above last year -- of 2019 level for the quarter. Guests want to engage deeper with us and each other, and they are willing to shift into the digital space to do so. Still, with the stock trading at a frothy price-to-earnings (P/E) ratio of 64 times forward earnings estimates, some investors might be tempted to lock in a big short-term gain. A right of access:You have the right to request access to, or a copy of, the personal data we process about you. The stock doesn't seem to slow down, and it is a . Listen to Webcast. Subsequent to . A right of erasure: You have the right to request that we delete personal data about you. Our vertically integrated model and high margin structure allows us to use more airfreight while still delivering gross margin expansion. And I'm really excited that we're celebrating the 10-year anniversary of our iconic CVs event with a virtual run later this month. Best of luck to the holidays. Skilled in technical programs, brand strategy, web design and collaborative leadership. U!4j*54U3 , @nl @:}"eAzd&;Y:2;k/>2C DK;zc$aFCpHV4. So I think the -- I know the TAM has been impacted by those macro trends. As we've mentioned, we're seeing some delayed inventory receipts due to issues at the ports and also the recent COVID-related closures of certain factories in Southern Vietnam. We retain personal data only for as long as necessary to achieve the purpose for which such personal data was collected, unless a different retention period is required under applicable law. Mark Altschwager -- Robert W. Baird -- Analyst. Feb. 18, 2021 | 7:00 AM US/Central. Is that the right way to think about this? lululemon athletica inc. Transfers to Canada are made pursuant to European Commission decision 2002/2/EC of 20 December 2001. Wellbeing for All: Provide access to wellbeing tools for more than 10 million people by 2025. Check your inbox: your 10% off code is on its way. Before I open it up to questions, I wanted to take a look back on these results and the previous quarters and speak for a moment about the unique business model that drives their success, enables our strong performance, and allows us to navigate COVID-19 and the current headwinds impacting our supply chain. lululemon Names Meghan Frank Chief Financial Officer, lululemon Appoints Celeste Burgoyne to President, Americas and Global Guest Innovation, lululemon Announces Leadership Appointments of EVP, International and VP, Global Head of IDEA, lululemons Latest Jackets and Outerwear Collection Stretches Beyond Expectations, Super Fine Face Mist is the Newest Addition to lululemons Selfcare Category, lululemon Partners with the Canadian Journalism Foundation and CBC/Radio-Canada to Create the Black Journalism Fellowship, Ice-Dyed Nulux: lululemons Newest One-of-a-Kind Run Collection, lululemon Partners with When We All Vote and Time to Vote, Keep Moving in Technical Loungewear this Fall, lululemon Expands On The Move Category with New Styles and Fabrics, lululemon Introduces New Light Support Bras This Summer, lululemon Acquires Home Fitness Innovator MIRROR, lululemon Commits to Inclusion, Diversity, Equity, and Action, lululemon Announces Global Gender Pay Equity Stats and Commitments, lululemon Announces Mental Wellbeing Commitments at the 2020 MAKERS Conference, lululemon Partners with Robert Geller on Second Collection, A Moment to Reflect, lululemon Appoints Nikki Neuburger Chief Brand Officer, Sorry, we don't ship to your country/region, lululemon athletica 1818 Cornwall Ave, Vancouver BC V6J 1C7, California Privacy Rights (Last Updated: 1/23/23). Total comparable sales increased 17%, or increased 18% on a constant dollar basis. February 3, 2019, lululemon athletica 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 Walmart Inc. (NYSE: WMT) hosted the virtual 2021 Investment Community Meeting on February 18, 2021.
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