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. During this call, we will present both GAAP and non-GAAP financial measures. And we always had visions of being able to bring that to the digital platform. So excited about what the future continues to hold for our international business. If you are a consumer in the European Economic Area ("EEA") or Switzerland, this privacy policy ("Privacy Policy") explains how we process your personal data when you shop in our stores, access or use our websites, register for and attend events, engage with us on social media or otherwise interact with us. Please refer to Note 15 to the audited consolidated financial statements included in Item 8 of Part II of our Report on Form 10-K to be filed with the Press Releases; Events & Presentations; Financial Information. If we receive data about you in this manner, we combine that data with the personal data we collect directly from you. It's only a fraction of Nike's $41 billion top line, but that wide gap hints at the opportunity in front of the company. Now let me take a moment to share with you a few highlights from several exciting community activations we recently hosted throughout the quarter. VANCOUVER, British Columbia Operator? Just any color around that would be really helpful. Hi, Michael, I'll take the first part of that question. The adjusted financial measures exclude the amounts recognized in connection with at the end of fiscal 2018. Senior Private Client Manager is a client-centric Leader committed to developing and motivating a team of Private Client Sales Managers leading Stylists as Curators to create a culture of improvement and high performance. During the A paid membership program focused on sweat. Since our holding company, subsidiaries and affiliates are located around the world, please note that these disclosures involve cross-border transfers of your personal data. "Our most loyal [customers] are incredibly loyal.". Dec 10, 2020. This year, we will likely achieve the goal we set to double our men's business, and we remain on track to quadruple our international business by 2023, if not sooner. Quarter2, Gross Square Listen to Webcast. Lululemon stock took a beating after lowering guidance for the fourth quarter, falling 9%. And we're excited about the ability to scale it. 1-604-732-6124 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. 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. South East Asia While this level of inventory can support our increased revenue guidance I'm going to walk through in a moment, it is lower than we had initially targeted due to supply chain challenges. Direct to Working with lululemon has felt particularly important to us. Ecosystem . The membership test gave us access to thousands of guests that were behaving in this way in MIRROR, at the end of this year is going to give us access to hundreds of thousands. If I could just ask one more question, switching gears for a second. We want to be by 2030, 100% of our products made with sustainable materials, and that's what these partnerships are gearing and working toward for us. But the number of guests that are converting when they see those ads and ultimately convert to buy, once they work their way down through the funnel, are all at or above where we've been trending and very healthy. At the end of Q3, we expect inventory levels to increase approximately 15% to 20% relative to Q3 2020. The company is building a powerful brand built on grassroots initiatives and millions of loyal customers. We currently have approximately 95% of our stores opened globally, we're engaging with guests inside our stores and through our community activations, and our e-commerce business remains strong. , In many cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "outlook," "believes," "intends," "estimates," "predicts," "potential" or the negative of these terms or other comparable terminology. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Earnings, U.S. Please note that we provide different or additional privacy notices in connection with certain activities, programs, and offerings. tax reform and taxes on the repatriation of foreign earnings during fiscal 2018. That's helpful. In addition, the comparable sales and store productivity metrics given on today's call are in constant dollars. We saw strong performance in our nonscrubs business, which increased 59%. E-commerce comps skyrocketed 170% in Europe last quarter, and management is continuing to move forward with new store openings in Greater China. Our EPS guidance continues to assume modest dilution from MIRROR in the 3% to 5% range, excluding acquisition and integration-related costs. 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. We continue to expect capital expenditures to be approximately $365 million to $375 million in 2021. Absolutely, Mark, and thanks for the question. [Operator instructions] I would now like to turn the conference over to Howard Tubin, vice president investor relations for Lululemon Athletica. Please go ahead. About Us. , Chief Executive Officer, commented: "2019 was a strong year for Fostered and maintained various relationships with athletic/wellness influencers and business owners in order to promote products, create and execute community events, find and maintain brand ambassadors and increase social media engagement. To make the world smarter, happier, and richer. Fourth quarter revenue up 20% to Login. Discover information about lululemon's quarterly results and find annual reports. Gross margin was 55.9%, an increase of 70 basis points compared to fiscal 2018. Guys, let me add my congrats on a really nice quarter. . Looking at our business over the course of the second quarter and the first half of the year, I continue to be excited about our day-to-day progress. h|]k\7~AV}!EJbrMv(}Gg64fW9GH)'FGNL5NgJD &b-Tj TN%O( .PF$r Gross profit for the second quarter were $843 million or 58.1% of net revenue, compared to 54.2% of net revenue in Q2 2020, and 55% of net revenue in Q2 2019. And for that, I'd like to say thank you. 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. The company sells its products through a chain of company-operated stores; outlets and warehouse sales; interactive workout platform; a network of wholesale accounts, such as yoga studios, health clubs, and fitness centers; temporary locations; and license and supply arrangements, as well as directly to consumer through mobile apps and lululemon.com e-commerce website. Quarterly Financial Supplements PDF. . and continues to spread in On a two-year CAGR basis, total revenue increased 28% with North America up 26% and International increasing 43%. at the End of And, Meghan, maybe just a quick follow-up on the increased outlook for airfreight. Anshul Ruparell quit the banking business to follow in his dad's entrepreneurial footsteps. are compared to the 52 weeks ended The US$500-million acquisition of Mirror was an "an important step in our strategy," said CEO McDonald. And as you mentioned, with the revised guidance of -- we're looking to achieve between $6.2 billion, $6.3 billion this year, putting us two years ahead. Lululemon offers pants, shorts, tops, and jackets for both leisure and athletic activities such as yoga and running. Gotcha. Right. is just kind of what you thought? First, we grew total revenue 28% on a two-year CAGR basis to $1.5 billion. Fantastic. Thank you, Howard, and I'd like to welcome everyone to our second-quarter earnings call. WACC . frP09,VPA kXshv-3S xg{'rz eP_lbIQ*bgK|5dbpdtO8kjQ*@+j*ffMuw/edeO:-^Iu{?9?cv!_(WMQ7U _7rl32!y=!_A|7c&86 hbb OFaFpoUzUz$}qWezu1wXc91 lululemon athletica inc. So it is a reflection of the industry. Internet Retail. U.S. Our partnership with LanzaTech, a biotech company, which allows us to create the world's first yarn and fabric using recycled carbon emissions. The direct-to-consumer channel, including e-commerce and mobile sales, made up 54% of total revenue. So in terms of SG&A, we guided for Q3 the 300 to 350 basis points of deleverage relative to 2019. And when you're going to air freight products, is that airfreight for upside or is that airfreight to potentially meet holiday demand? These results reflect the ongoing strength across all major areas of the business. 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? I would also note that markdowns declined relative to 2019. We respect your privacy and won't spam you. Howard Tubin The learnings from our membership test are considerable. World Health Organization Direct to consumer net revenue increased 41%. Is that the right way to think about this? February 2, 2020 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. It also provides fitness-related accessories and footwear. Versatile bottoms designed for laid-back looks. Here you will find key information and financial reports, puttingtheperformance oflululemon athleticaincinto perspective for you. 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. Our freshest gear. lululemon's net revenue worldwide 2008-2021. 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. A right of access:You have the right to request access to, or a copy of, the personal data we process about you. Just last week, we continued to build out our yoga offering through the introduction of the Instill franchise. Thank you for the detail and best of luck. Change in 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. And that really is rooted in a number of very unique attributes to our brand. Is that -- some -- the gross margin happens to be a lot higher without some of these supply chain pressures and some of this is just cyclical than structural? Lululemon was reporting strong revenue growth before COVID-19 while also seeing improving margins and growing earnings. We 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 in the Use of Your Personal Data section ABOVE. lululemon athletica I mean, so much is going on, right, so many puts and takes. Thank you so much. The event was featured in an . Feet Added Good afternoon and congratulations. Good. For the full year of 2021, we now expect revenue to be in the range of $6.19 billion to $6.26 billion. , at Despite these headwinds, we expect both strong revenue and EPS for the year, and we remain on track to deliver, or in some cases even exceed our goals as set forth in our Power 3 growth plan. Announces First Quarter Fiscal 2022 Results, lululemon athletica inc. Lululemon saw encouraging demand for its core products, in addition to its launches in new lines like menswear and outerwear. Investors who bought shares of lululemon athletica (LULU 1.66%) at the height of the COVID-19 fears in March when the stock briefly traded around $150 per share would already be sitting on a two-bagger. Lululemon's $500 million acquisition of high-tech fitness brand Mirror doesn't seem to be paying off. For Q2, total net revenue increased 61% to $1.5 billion, above our expectations of $1.3 million to $1.33 billion. Announces Third Quarter Fiscal 2022 Results, lululemon athletica inc. is paul troutman still on oak island; is it sunnah to kiss your wife on forehead. It also excludes the impact of any future share repurchases. ~^C`llhH5vY]-#~0 b Canada-based Lululemon completed the acquisition July 7. Comparable sales increase 20%. 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. Our success was our people, and honouring commitments to our landlords and vendors. Lululemon was reporting strong revenue growth before COVID-19 while also seeing improving margins and growing earnings. We are seeing good growth, we are investing in the country, supporting the teams, and overall, the international business, like our business in North America and some of our category opportunities, very early, and growth across all channels in the markets and product categories. or It is you who brings our brand to life every day and enables our strong financial results. Lululemon hosts sweat classes and other outdoor events designed to build a sense of community around the brand too. Do you view this as transitory? The Company ended the year with 491 stores. A few more details related to these results: in 2020, we achieved our goal to double our e-commerce business. I just wanted to follow up on that last answer. Michael Binetti -- Credit Suisse -- Analyst. 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. Just wondering how you think that impacts the company's ability to continue to reach its goals? A right of rectification: You have the right to request that we correct or supplement inaccurate or incomplete personal data we process about you. `F9HKb>*DpV Bva}d_uY)so6.~J6@&,xg+[ 0 Excellent. We are committed to serving the best interests of our shareholders. That continues to differentiate the brand and its unique position as premium but through quality innovation. Guests took three back-to-back classes, and Lululemon matched all ticket sales, which were then donated to the Black Women's Health Imperative. Inventory grew 17% versus last year and was $790 million at the end of Q2. We also transfer personal data to service providers that process personal data for us in the United States, Canada and other locations (as an example, Amazon Web Services process information for us in various data center locations, including those listed at HTTPS://AWS.AMAZON.COM/ABOUT-AWS/GLOBAL-INFRASTRUCTURE/).

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