lululemon investor presentation 2020

the Quarter, Number of We continue to monitor the situation and work closely with local authorities to prioritize the safety of our people and guests. We have always supported and invested in our people. 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. Operating margin was 29.8%, an increase of 140 basis points compared to the fourth quarter of fiscal 2018. Lululemon offers pants, shorts, tops, and jackets for both leisure and athletic activities such as yoga and running. This press release includes estimates, projections, statements relating to our business plans, objectives, and expected operating results that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We expect gross margin in Q3 to increase 50 to 100 basis points versus Q3 of 2019. Sign up to our emails to join The lululemon Community and enjoy 10% off your next order. Unsubscribe at anytime. 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. 2019, Selling, general and administrative expenses, Basic weighted-average shares outstanding, Diluted weighted-average shares outstanding, Goodwill Working with lululemon has felt particularly important to us. Our ABC and Commission styles bring you elevated everydaythe lululemon way. Introducing new pant fabrics and styles that deliver athletic innovation for everyday life. You may have the option to link your social media account to our social media account (such as on Facebook). The learnings from our membership test are considerable. 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. Does it kind of push it out a little bit more? The Investor Relations website contains information about Canada Goose Inc.'s business for stockholders, potential investors, and financial analysts. London, England, United Kingdom . lululemon athletica UK Ltd, located at Garden House, 57-59 Long Acre, London, WC2E 9JL, and our corporate affiliates and subsidiaries, including lululemon athletica inc., lululemon UK ltd.lululemon usa inc. and lululemon athletica canada inc. (collectively, "lululemon," "we," or "us") are the data controllers for the personal data we process about you. 1. We are committed to serving the best interests of our shareholders. We expect to launch our first products using Mylo next year. Thank you very much. Joining me today to talk about our results are Calvin McDonald, CEO; Meghan Frank, CFO; and Celeste Burgoyne, president, Americas and Global Guest Innovation. [Operator instructions] And now, I'd like to turn the call over to Cal. 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. Lululemon hosts sweat classes and other outdoor events designed to build a sense of community around the brand too. The new Navigation Stretch Down Collection is technically designed to keep you moving comfortably in winter conditions. Drivers of the deleverage continue to include our investment in MIRROR brand-building. Total During this call, we will present both GAAP and non-GAAP financial measures. Fantastic. 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. Building on the Companys progress and learnings over the past two decades, lululemons Impact Agenda brings a new level of ambition that will guide the way the Company approaches and measures its work across all aspects of its business. 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. , as our teams executed against our Power of Three growth plan. And just as you look forward, could you just talk about if you see any of the current issues leading into spring? This was an incredible shift that reflects Lululemon's loyal customer base and a strong response to its latest products. Fourth quarter revenue up 20% to hTA0 nCms!B4 CG/=jL;;DAV We are updating our guidance for the full year. 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. 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. or Or maybe said differently, do you believe that TAM coming out of this crisis is larger, broadly multiyear for the Lulu brand or are you taking accelerated market share, or is it a combination of both? February 3, 2019 And then Calvin, on international, when we gathered to the analyst's day and you gave us the initial guidance of quadrupling revenues by 2023, I think the comment was that international is going to reach breakeven in 2018 and would be 10 to 15% of earnings by 2023. Hi. lululemons Latest Jackets and Outerwear Collection Stretches Beyond Expectations, Super Fine Face Mist is the Newest Addition to lululemons Selfcare Category, 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). Please go ahead. Feet Added Its a holistic approach that reflects who we are, guided by our purpose to elevate the world by realizing the full potential within every one of us. 8. These locations currently remain closed. Switching now to International, our sales trends continue to be robust with all major regions generating strong double-digit sales growth on a two-year CAGR basis. Unfortunately, the transmission of information via the internet is not completely secure or private. The Motley Fool owns shares of and recommends Lululemon Athletica. lululemon athletica, 9 Allee Scheffer, Luxembourg L-2520. 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. Thanks. E-commerce growth accelerated from 41% during the fiscal fourth quarter to 70% last quarter on a constant-currency basis. This helps us to provide you with a good experience when you browse our websites and allows us to improve our websites. Can you just talk about the idea of changes and how it's impacted MIRROR? Luxury Goods. Oct 2021 - Present1 year 6 months. Please go ahead. 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. 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. When looking at total revenue, our guidance range implies a two-year CAGR of approximately 25%, which is higher than our three-year revenue CAGR of 19% leading up to 2020 and is well ahead of the low-teens CAGR we contemplated in our Power 3 growth plan. Feb 14, 2023: Lululemon had been looking for ways to meet its . We take pricing, obviously, seriously in that we're constantly monitoring and testing. inc. lululemon athletica That continues to differentiate the brand and its unique position as premium but through quality innovation. We're so excited to welcome lululemon to the Fertifa family. Check your inbox: your 10% off code is on its way. Our Service Providers. Lululemon saw encouraging demand for its core products, in addition to its launches in new lines like menswear and outerwear. 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. 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. In addition, I am thrilled that we're able to achieve productivity in our open stores equal to levels we saw in 2019 and happy to see these results sooner than we expected. Quarter2, Gross Square I guess, I imagine it was a challenge to get reads on the tests given everything that's been going on in the last 18 months, but I mean do you still see an opportunity to have a loyalty program that exists outside of the MIRROR platform or what form might that take? 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? Let me now share with you the details of our Q2 performance. Please go ahead. Subscribe New All new decks. It also provides fitness-related accessories and footwear. Does it create an opportunity to take some pricing to offset cost increases, whether it's in labor or other areas? Made from our newest innovation in technical performance fabric called smooth cover, this fabric offers our hug sensation, which provides incredible support through every pose in your practice. We now expect our fiscal year 2021 adjusted diluted earnings per share to be in the range of $7.38 to $7.48. As of January 30, 2022, it operated 574 company-operated stores under the lululemon brand in the United States, Canada, the People's Republic of China, Australia, the United Kingdom, Japan, New Zealand, Germany, South Korea, Singapore, France, Malaysia, Sweden, Ireland, the Netherlands, Norway, and Switzerland. We prioritized our people and kept our teams intact by offering pay production, sick pay, and other key people investments. Our freshest gear. $518.5 million Consumer Net 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 would now like to speak to our supply chain about the issues facing the entire industry. in cash and cash equivalents compared to When you access and use our websites, we also automatically collect data, including personal data, using cookies, pixels and local storage. Comps increased 4% on top of the 157% increase last year. Combined, these give us a unique strength to keep growing MIRROR. China, in particular, is a market where we have leaned in on an investment. `F9HKb>*DpV Bva}d_uY)so6.~J6@&,xg+[ 0 Please go ahead. Malaysia Furthermore, we do not believe the adjustments are reflective of our expectations of our future operating performance and believe these non-GAAP measures are useful to investors because of their comparability to our historical information. Comparable store sales reflects net revenue from company-operated stores that have been open for at least 12 full fiscal months, or open for at least 12 full fiscal months after being significantly expanded. A new infographic covers how the company achieved global gender pay equity, gender representation statistics, and continued commitments to pay equity. One, the membership test, we learned a lot. Stores Open Thank you so much. A replay will be made available online approximately two hours following the live call for a period of 30 days. It has 2,000 ambassadors around the world and a team of guest educators helping gather feedback from customers and cultivating a global community around the brand using digital marketing and social media. 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. The next question comes from John Kernan with Cowen. A constant dollar basis assumes the average foreign exchange rates for the period remained constant with the average foreign exchange rates for the same period of the prior year. The $5.6 billion sales year. Lululemon is starting to tap the $3 trillion global wellness market. Learn More. February 2, 2020 Productivity in stores returned to 2019 levels, representing continued improvement versus 88% productivity we realized in Q1 of this year. So I would not factor in any marginal impact, and our goals speak for themselves. Excellent. Copies of the Standard Contractual Clauses we use to facilitate this transfer of data are available HERE and HERE. Direct to For more information on these non-GAAP financial measures, please see the section captioned "Reconciliation of Non-GAAP Financial Measures" included in the accompanying financial tables, which includes more detail on the GAAP financial measure that is most directly comparable to each non-GAAP financial measure, and the related reconciliations between these financial measures. Canada The reduction relative to last year is due primarily to deductions related to stock-based compensation. Specialty Retail. But taking profits now could be a very costly mistake. It also excludes the impact of any future share repurchases. And I am pleased to now hand it over to Celeste, who will share some additional details with you on our stores and e-commerce business. 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. In this Privacy Policy, "personal data" means any information about an individual whose identity is apparent or can be ascertained, directly or indirectly. While in another jurisdiction for processing, your personal data may be accessed by the courts, law enforcement, and national security authorities of that jurisdiction. Thank you for standing by, this is the conference operator. Login. Brunswick Group SG&A expenses were $541 million or 37.3% of net revenue, compared to 39.1% of net revenue in Q2 2020 and 36% of net revenue in Q2 2019. On the following pages, you will find key shareholder information and financial reports to help provide perspective on our financial news, performance and events. lululemon will use the information you provide to deliver you relevant information about our products and services, including offerings based on your preferences and purchase history. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Q. Our activation pairs our ambassadors with fitness instructors from the local community to lead over 140 complimentary fitness classes. And we're pleased, I would say, overall with that relative to 2020 performance. Sales1,2, Change in Seamlessly blending technical performance with beautiful design. Please note that we provide different or additional privacy notices in connection with certain activities, programs, and offerings. 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. Thank you, Howard, and I'd like to welcome everyone to our second-quarter earnings call. The Black Lives Matter movement acted as a powerful catalyst within lululemon. I'm a digital strategist and intrapreneur with over 13 years of experience leading digital transformation for mature, enterprise brand manufacturers. boxer zchter saarland; neil postman: wir informieren uns zu tode errterung , The Company repurchased 1.1 million shares of its own common stock at an average cost of. We're early, we're thinking long term, and that convergence was natural. These forward-looking statements also include our guidance and outlook statements. : The Company ended fiscal 2019 with And those scenarios played out. Shares of the yogawear maker climbed 1.5% to 369.07 in Thursday's stock market trading.Lululemon stock is working on a 383.64 cup . 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. And with that, we'll be happy to take your questions. 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. As Calvin mentioned, sales trends remain positive with total digital comp up 4% in Q2. 2020 was a year unlike any otherand it presented both challenges and opportunities as world events shifted around us. 0001172661-23-001474.rtf. This quarter, we launched the AirSupport Bra, our most tested bra to date, which was developed following five years of advanced research and development. For the full year of 2021, we now expect revenue to be in the range of $6.19 billion to $6.26 billion. Operator? For days in the city, or on the sofa. Our freshest gear. Press Releases; Events & Presentations; Financial Information. 11. Foreign Thanks, John. Lululemon Athletica Inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women and men. the Beginning 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 obsession with raw material and our investment in our product is what we do, is what we obsess about, and its really what drives why the guests feel different and continue to sort of be loyal to this product and brand. Our annual range also assumes the factories we used to source products in Vietnam begin a phased reopening in mid-September. And just a few weeks ago, we announced our multi-year collaboration with Genomatica, a recognized leader in sustainable materials to create a lower impact plant-based nylon. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that lululemon does not accept any responsibility or liability for these policies.Please review these policies before you disclose any personal data when visiting such third-party websites. These statements are based on current information which we have assessed, but which by its nature is dynamic and subject to rapid and even abrupt changes. If we make changes, we will notify you by revising the date at the top of this Privacy Policy. Lululemon learned some things about what customers want in a shoe from its previous partnership to sell athletic footwear from the brand Athletic Propulsion Labs (APL). Lululemon Athletica. . On June 29, 2020, Lululemon announced its intention not to be left behind. One million four hundred sixty thousand three hundred eighty subordinate voting shares were repurchased between January 17 and July 6 . If you follow a link to any of these websites, please note that these websites have their own privacy policies and that lululemon does not accept any responsibility or liability for these policies. For example, when your personal data is processed for email marketing purposes, you have the right to object to such processing at any time by clicking on the unsubscribe link at the bottom of such marketing communications. February 2, 2020 And as this scale and as we continue to draw collections and learn, we are not anticipating, or how we factored in, margin pressure results. , So in terms of SG&A, we guided for Q3 the 300 to 350 basis points of deleverage relative to 2019. After submitting your request, you will receive an activation email to the requested email address. the End of the Lululemon boosted its holiday-quarter forecasts on December 11, just hours after it posted Street-beating earnings of $1.16 per share on a 22% gain in revenues to $1.12 billion. On Thursday, reporting its third-quarter earnings results, Lululemon slashed its outlook for . ~^C`llhH5vY]-#~0 b . Thanks to our unique innovations across both fabrics and construction, empowered by our proprietary research, we're very excited about our product positioning and we know that bras is a wonderful category to drive loyalty with our guests. Thanks, Celeste. Right. Hi, good afternoon. It's Meghan. e. Compliance with Law. The Company repurchased 1.6 thousand shares of its own common stock at an average cost of. I wanted to follow up on the international business and the momentum that you're seeing there. And perhaps a little bit more detail on your outlook for China momentum into the second half. Lululemon had a high guest retention rate of 92% among its top 20% of spenders. Investors expected lululemon athletica (LULU 1.66%) to deliver a large increase in revenue over the year-ago weakness, . We disclose personal data 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. Comparable store sales increased 9%, or increased 10% on a constant dollar basis. Given this strategic opportunity, we will suspend our membership tests that have been underway and apply the learnings to how we build out the MIRROR platform for guests. The highlight was standout performance from the direct-to-consumer channel where robust growth in e-commerce helped Lululemon report a small profit even with stores closed. 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. VANCOUVER, British Columbia -- (BUSINESS WIRE)-- lululemon athletica inc. (NASDAQ:LULU) today announced financial results for the fourth quarter and fiscal year ended . And when do some of the facilities that have currently been shuttered in Vietnam need to start ramping, which hits later holiday demand, as well as spring? Calvin McDonald -- Chief Executive Officer. Electric vehicle maker Tesla hosted a 2023 investor day presentation in Austin, Texas, on Wednesday. As a reminder, we reported EPS of $0.96 in Q3 of 2019. VANCOUVER, British Columbia lululemon athletica Tapestry Investor Day 2022. EVP Celeste Burgoyne makes a pledge to offer leading mental wellbeing benefits to employees. I also want to give some context around these numbers and the quarter-after-the quarter performance we've been delivering. For example, if you decide to participate in certain interactive areas or features of our websites, such as creating a public profile and posting your goals, you consent to the disclosure of this information to other users of our websites. In our store channel, sales increased 9% on a two-year CAGR basis, above our expectations of approximately flat. Early innings is a great thing. Last year, it tested a line of self-care productsand is currently in the process of rolling out a loyalty program -- again, building that bond between brand and guest. endstream endobj 1932 0 obj <>stream We only share with service providers the personal data that they need to perform services for us. Exciting, thanks. We've opened a head office in Shanghai, we're leaning in hiring and supporting local teams within that market, and in our store expansion, as well as our digital innovation and support. Announces Second Quarter Fiscal 2022 Results, lululemon athletica inc. Gross square feet added/lost during the quarter includes net square foot additions for company-operated stores which have been renovated or relocated in the quarter. Please read this Privacy Policy from time to time to make sure you understand how we process your personal data and the choices you have with respect to such processing. , we temporarily closed all of our retail locations in Mainland China. Mark Altschwager -- Robert W. Baird -- Analyst. Great. Hi, Lorraine. . Here you will find key information and financial reports, putting. South East Asia , and in many other countries globally. Circularity: Offer our guests new options to extend the life of our products by 2025. To make the world smarter, happier, and richer. Consider that in fiscal 1994, Nikesales declined 3.6% to $3.79 billion. February 3, 2019 We expect our adjusted effective tax rate for the year to be similar to 2020. 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. 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. 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. And third are really the roles in categories that our brand plays in and how the guests are wearing and using the gear. Before handing it back to Calvin, I want to express my gratitude to the entire Lululemon collective.

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