Lululemon Athletica Inc.’s stock LULU, -0.99% fell 1.6% in premarket trading on Monday after the company said it could fall a penny short of the FactSet consensus estimate at the low end of its fourth-quarter profit guidance. Lululemon said it now expects to earn between $4.96 and $5 a share in the fourth quarter, compared to the FactSet consensus estimate of $4.97 a share. The apparel maker had previously projected fourth-quarter earnings of $4.85 to $4.93 a share. Lululemon Athletica now expects fourth-q ...

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time.Access your favorite topics in a personalized feed while you're on the go. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe athleisure brand Lululemon has distanced itself from its founder and former CEO Chip Wilson's comments about diversity.Wilson, who left the company in 2015, criticized what he called the "whol ...

Lululemon’s billionaire founder Chip Wilson slammed the yoga wear chain’s “whole diversity and inclusion thing” as well as its use of “unhealthy” and “sickly” people in ads, some of which feature now feature models that he considers “not inspirational.”Wilson, who held the CEO title until 2007 and stepped down as chairman of the board in 2013 after he sparked outrage by saying that “some women’s bodies just don’t actually work” for the company’s yoga pants, told Forbes this week that Lululemon has “become ...

Robert Way Thesis Lululemon Athletica Inc., (NASDAQ:LULU) commonly known as Lululemon, is a Canadian-American multinational athletic apparel retailer headquartered in British Columbia and incorporated in Delaware, United States. The stock has performed exceptionally well, gaining more than 50% in value in 2023. While it trades at a rich valuation of close to 60 times earnings, I believe the stock is still undervalued with positive catalysts such as its pricing power, growth in market share, and the rapi ...

Lululemon Athletica Inc. (NASDAQ:LULU) Q3 2023 Earnings Conference Call December 7, 2023 4:30 PM ET Company Participants Howard Tubin - VP, IR Calvin McDonald - CEO Meghan Frank - CFO Conference Call Participants Alex Straton - Morgan Stanley Rick Patel - Raymond James Lorraine Hutchinson - Bank of America Brooke Roach - Goldman Sachs Matthew Boss - JPMorgan Adrienne Yih - Barclays Abigail Zvejnieks - Piper Sandler Paul Lejuez - Citigroup Michael Binetti - Evercore ISI Dana Telsey - Telsey Advisory Gr ...

Revenue Growth - Net revenue increased 19% to $2.2 billion in Q3 2023 compared to Q3 2022[87] - Net revenue from China increased 64% in the first three quarters of 2023 compared to the same period in 2022[95] - Net revenue increased by 20.1% to $6.41 billion for the first three quarters of 2023, with company-operated stores contributing $591.3 million (23.3% increase)[120] - Company-operated stores contributed $108.2 million to net revenue growth, with 63 net new stores opened since Q3 2022[99] - Company-operated stores opened 63 net new locations since Q3 2022, contributing $387.1 million to net revenue growth[121] - The company-operated stores increased to 686 as of October 29, 2023, up from 655 in January 2023[171] Comparable Sales and Direct-to-Consumer Performance - Total comparable sales increased 13%, with comparable store sales up 9% and direct to consumer net revenue up 18%[87] - Comparable sales increased by 13% (14% on a constant dollar basis) for the first three quarters of 2023, driven by increased store traffic and direct-to-consumer revenue[118] - Direct-to-consumer net revenue increased by 16% (18% on a constant dollar basis) for the first three quarters of 2023, primarily due to increased traffic[122] - Total comparable sales increased by 14% in constant dollars, with direct to consumer net revenue up 18% and comparable store sales up 11%[153] Gross Profit and Margin - Gross profit increased 21% to $1.3 billion, with gross margin rising 110 basis points to 57.0%[87] - Gross profit increased by 25% to $3.71 billion for the first three quarters of 2023, with gross margin expanding by 230 basis points to 57.8%[120][123] - Adjusted gross margin increased by 260 basis points, primarily due to lower freight costs and reduced air freight usage[123] - Gross profit for Q3 2023 was $1,256.7 million with a gross margin of 57.0%[156] - Product margin increased by 320 basis points excluding the impact of lululemon Studio inventory provision, primarily due to lower freight costs[94] Operating Income and Expenses - Adjusted income from operations increased 24% to $436.3 million, with adjusted operating margin up 80 basis points to 19.8%[89] - Selling, general and administrative expenses increased 23.2% to $842.8 million, driven by higher head office costs and marketing expenses[103] - Operating costs increased by $75.6 million, including $34.2 million in employee costs, $18.8 million in other operating costs, $15.2 million in variable costs, and $7.4 million in brand and community costs[104] - Selling, general and administrative expenses increased by $453.3 million (23.2%) year-over-year, driven by higher head office costs ($258.0 million) and operating channel costs ($213.1 million)[125][126] - General corporate expenses increased by $214.8 million (32.7%) due to higher employee costs, brand and community costs, and technology expenses[131][137] - Company-operated stores income from operations increased by $249.8 million (37.8%) due to higher gross profit ($396.0 million) and improved gross margin[131] - Direct to consumer income from operations increased by $204.4 million (21.9%) driven by higher gross profit ($311.3 million) and improved gross margin[131][135] - Other channels income from operations increased by $72.2 million (97.5%) due to higher gross profit ($57.7 million) and improved gross margin[136] Net Income and Earnings Per Share - Diluted earnings per share were $1.96, while adjusted diluted earnings per share were $2.53[90] - Net income decreased by 2.6% to $248.7 million in Q3 2023, driven by higher SG&A expenses and asset impairment costs[116] - Net income increased by $145.7 million (19.8%) primarily due to higher gross profit ($741.3 million) and other income ($24.8 million)[141] - Adjusted net income for Q3 2023 was $320.8 million, with diluted earnings per share of $2.53[156] Asset Impairment and Restructuring Costs - Impairment of assets and restructuring costs for lululemon Studio amounted to $74.5 million in Q3 2023[106][107] - Asset impairment and restructuring costs related to lululemon Studio totaled $74.5 million in 2023[127][131] Amortization and Intangible Assets - Amortization of intangible assets decreased by 42.8% to $1.25 million in Q3 2023, primarily due to the acquisition of MIRROR[106][108] - Amortization of intangible assets decreased by $1.6 million (23.8%) primarily due to the rebranding of MIRROR as lululemon Studio[128][130] Foreign Currency Impact - Foreign currency fluctuations reduced net revenue growth by $82.2 million in the first three quarters of 2023 compared to the same period in 2022[93] - A 10% appreciation in the U.S. dollar against the Canadian dollar would result in a $46.0 million decrease in income from operations[179] - The change in the U.S. dollar against the Canadian dollar resulted in a $54.5 million increase in accumulated other comprehensive loss in 2023[178] - The change in the U.S. dollar against the Canadian dollar resulted in an $83.0 million increase in accumulated other comprehensive loss in 2022[178] - Foreign currency exchange risk is managed through forward currency contracts, particularly for Canadian and Chinese subsidiaries[176] Cash Flow and Financial Position - Total cash provided by operating activities increased by $991.9 million year-over-year to $912.1 million[158] - Inventory balance as of October 29, 2023, decreased by 4% to $1.7 billion compared to the previous year[167] - The company repurchased 1.4 million shares in the first three quarters of 2023 at a total cost of $504.6 million[164] - Cash and cash equivalents as of October 29, 2023, stood at $1,091.1 million[166] - The company's committed revolving credit facility has a capacity of $400.0 million, with $393.4 million available as of October 29, 2023[166] - The company has a committed revolving credit facility of up to $400.0 million, with no borrowings outstanding as of October 29, 2023[180] - The company holds cash and cash equivalents exceeding government-insured limits with certain financial institutions[182] Inflationary and Cost Pressures - Inflationary pressures, including increased wage rates and air freight costs, impacted operating and gross margins in 2022 and 2023[183] - Sustained increases in transportation costs, wages, and raw material costs may adversely affect operating margins if selling prices do not increase accordingly[183] Tax and Other Financial Metrics - Income tax expense increased by $83.8 million (30.0%) with an effective tax rate of 29.2%, up 170 basis points[135][138] - The company's operating profits are historically weighted towards the fourth quarter, with 44% of full-year operating profit generated in Q4 2021[159] Credit and Risk Management - The company does not engage in interest rate hedging activities and has no current intention to do so[180] - Credit risk exposure includes unrealized gains on derivative instruments based on foreign currency rates at the time of nonperformance[182] - The company seeks to minimize credit risk by transacting with investment-grade financial institutions and monitoring their credit standing[182]

Lululemon Athletica Inc. (NASDAQ:LULU) Q2 2023 Earnings Conference Call August 31, 2023 4:30 PM ET Company Participants Howard Tubin - VP, IR Calvin McDonald - CEO Meghan Frank - CFO Conference Call Participants Matthew Boss - JPMorgan Adrienne Yih - Barclays Lorraine Hutchinson - Bank of America Paul Lejuez - Citi John Kernan - TD Cowen Brian Nagel - Oppenheimer Dana Telsey - Telsey Group Ike Boruchow - Wells Fargo Brooke Roach - Goldman Sachs Alex Straton - Morgan Stanley Operator Thank you for standing b ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-33608 lululemon athletica inc. (Exact name of registrant as specified in its charter) Delaware 20-3842867 (State or other jurisdi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-33608 lululemon athletica inc. (Exact name of registrant as specified in its charter) Delaware 20-3842867 (State or other jurisdi ...

Lululemon Athletica Inc. (NASDAQ:LULU) Q1 2023 Earnings Conference Call June 1, 2023 4:30 PM ET Company Participants Howard Tubin - Vice President, Investor Relations Calvin McDonald - Chief Executive Officer Meghan Frank - Chief Financial Officer Conference Call Participants Rick Patel - Raymond James Adrienne Yih - Barclays Mark Altschwager - Baird Lorraine Hutchinson - Bank of America Dana Telsey - Telsey Group Tracy Kogan - Citigroup Matthew Boss - JPMorgan Ike Boruchow - Wells Fargo Alex Straton - Morg ...