Please note that our websites contain links to third-party websites that are not controlled or operated by lululemon. [Operator instructions] I would now like to turn the conference over to Howard Tubin, vice president investor relations for Lululemon Athletica. 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. 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. 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. 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. 09/09/22. 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. For the full year of 2021, we now expect revenue to be in the range of $6.19 billion to $6.26 billion. Equally, we know that the pandemic drove forward, accelerated some of the guest behaviors that play to the strength of our brand. 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. Lululemon expects fiscal third-quarter revenue in a range of $1.4 billion to $1.43 billion, with adjusted earnings per share of between $1.33 and $1.38. February 2, 2020 lululemon investor presentation 2020. lululemon investor presentation 2020. Comparable sales increase 20%. Thanks, Jay. 5. Closely monitoring the situation at this point, we do anticipate that the airfreight's environment will not improve for the balance of the year and thus, we've guided to the 150 to 200 basis points impact for this year, and we'll continue to update you as we move into '22. The next question comes from Michael Binetti with Credit Suisse. And those scenarios played out. All but one of these locations have since reopened. I'm excited about these three new partnerships and it's just the beginning of Lululemon's commitment to be a leader in the industry related to product, sustainability, and innovation. Quarter2, Total Gross Listen to Webcast. We now expect our fiscal year 2021 adjusted diluted earnings per share to be in the range of $7.38 to $7.48. We look forward to sharing more with you on the evolution of our loyalty programs at a later date. I wanted to focus on the men's business for a minute. *Average returns of all recommendations since inception. 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. The two-year CAGR continued to accelerate. Twelve commitments detail specific actions across a range of global issues including diversity and inclusion, mental wellbeing, climate change, and circularity. So it really supports the early earnings in growth across multiple levers. Lululemon Athletica. 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). But if it does, then Lululemon has a good shot at approaching $13 billion in annual revenue by 2026, compared to just $3.3 billion in 2018 and $6.3 billion in 2021. Quarter. In general, we use your personal data to respond your requests, conduct your requested transactions, maintain and customize your account and our interactions with you and provide, maintain and improve our products and services. . lululemon For more information about the disclosure of your personal data, please refer to our Privacy Policy. ~^C`llhH5vY]-#~0 b Our EPS guidance continues to assume modest dilution from MIRROR in the 3% to 5% range . Those costs in the market are rising, which has an impact, ultimately, onto CAC. The strategy is organized into three interconnected areas of focusBe Human, Be Well, and Be Planetwith 12 goals to drive progress. 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. Straight to your inbox. Moving to SG&A. Please go ahead. So excited about what the future continues to hold for our international business. I am grateful to everyone who has dedicated their knowledge and experience to help us define our approach.. 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. There are obviously between bottoms and tops and shorts and outerwear and some of the accessories. Square Feet at The Motley Fool has a disclosure policy. Thank you, Brooke. Woodmere, Ohio. 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. 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. 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. 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. To learn more see our privacy policy. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. So we're excited heading into the holiday, But I did want to call it out because we're monitoring it. About. Lululemon was reporting strong revenue growth before COVID-19 while also seeing improving margins and growing earnings. Hi, Michael, I'll take the first part of that question. Great. Thank you, Howard, and I'd like to welcome everyone to our second-quarter earnings call. e. Compliance with Law. "When you compare that to other brands, that is very high," McDonald said. I mean, these are just really stellar results. For all other inquiries, please contact[emailprotected]. Yes, I would say definitely view it as temporary in nature. 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. Now let me take a moment to share with you a few highlights from several exciting community activations we recently hosted throughout the quarter. $404.8 million in cash and cash equivalents compared to for further information on these adjustments. If reasonably necessary or required to meet legal or regulatory requirements, resolve disputes, prevent fraud and abuse, or enforce our terms and conditions, lululemon may also keep personal data as required, after an account is closed or is no longer necessary to provide services. For 2022, our first full year as a public company, we delivered net revenue growth of over 20%. We're early, we're thinking long term, and that convergence was natural. Q. 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. Subsequent to Effective November 23, Meghan Frank will become the companys first female CFO. Square footage increased 8% versus last year, driven by the addition of 28 net new stores since Q2 of 2020. First, we grew total revenue 28% on a two-year CAGR basis to $1.5 billion. Gross margin was 55.9%, an increase of 70 basis points compared to fiscal 2018. The next question comes from Erin Murphy with Piper Sandler, please go ahead. . Lululemon had a high guest retention rate of 92% among its top 20% of spenders. The event was featured in an . 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 as described in the Data Transfers section BELOW. 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. Lululemon finished fiscal 2019 with $3.98 billion in revenue. And finally, I am pleased to share that our adjusted earnings per share for the quarter were $1.65 versus $0.96 in 2019, which is significantly ahead of our expectations. Thanks and congrats on another great quarter. are compared to the 13 weeks ended Learn More. Our stores continue to rebound, generating a two-year revenue CAGR of 9%, which is ahead of our expectations. Goldman Sachs DTC/Digital Apparel Pop-up Conference Featuring Joanne Crevoiserat and Noam Paransky. Auto Parts . United States Securities and Exchange Commission We've shared and continue to see our brand gaining market share across categories, men's and women's. 12. In closing, I'd like to thank the entire Lululemon family, especially our teams in stores and our guest education center, and in our distribution centers around the world. Lululemon was reporting strong revenue growth before COVID-19 while also seeing improving margins and growing earnings. As I've said before, Lululemon remains in the early innings of our growth story, and I continue to be inspired and excited with the momentum we're seeing across the business. Discover lightweight, comfortable bottoms designed for every environment. , as our teams executed against our Power of Three growth plan. We continue to monitor the situation and work closely with local authorities to prioritize the safety of our people and guests. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or with greater prominence to, the financial information prepared and presented in accordance with GAAP. 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? Company-operated Store Count and Square Footage1 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. Direct to consumer net revenue increased 35%. 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. Consider that in fiscal 1994, Nikesales declined 3.6% to $3.79 billion. Please review these policies before you disclose any personal data when visiting such third-party websites. compared to Announces Second Quarter Fiscal 2022 Results: PDF : 08/18/2022: lululemon athletica inc. Our success was our people, and honouring commitments to our landlords and vendors. 2. These include the rights to revoke your consent and to object to processing (for example, you have the right to revoke your consent to receive the newsletter at any time by clicking on the unsubscribe link at the bottom of our newsletter emails). 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. 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. . A live webcast of the conference call will be available online at: http://investor.lululemon.com/events.cfm. Great. If we make changes, we will notify you by revising the date at the top of this Privacy Policy. Login. Hi. Combined, these give us a unique strength to keep growing MIRROR. Livestreamed from Tesla's electric vehicle manufacturing facility in Texas, CEO Elon Musk focused much of his presentation on the company's "Master Plan 3," which laid out what steps needed to be taken . 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? 10 stocks we like better thanLululemon AthleticaWhen our award-winning analyst team hasa stock tip, it can pay to listen. In Q2, we repurchased 506,000 shares at an average price of $338. Operating margin was 22.3%, an increase of 80 basis points compared to fiscal 2018. Yeah, thanks, Erin. People Who Make Our Products Sub Navigation. During this call, we will present both GAAP and non-GAAP financial measures. 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. Thanks for taking my question and congrats on the results here. the End of the 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 . Document Date Form View; Feb 15, 2023: SC 13G: View HTML. As a reminder, all participants are in listen-only mode and the conference is being recorded. Our ability to sustain momentum quarter after quarter and year after year, and the incredible long-term prospects for our brand. We saw strong performance in our nonscrubs business, which increased 59%. Wellbeing for All: Provide access to wellbeing tools for more than 10 million people by 2025. Thanks, Celeste. are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. February 2, 2020 at the How's the margin profile of the sustainable product look versus the current assortment? After many real and impactful conversations with their underrepresented employees and greater community, lululemons Senior Leadership Team made the following commitments to stand up and fund Inclusion, Diversity, Equity, and Action within the organization to support meaningful, lasting change in the world. And at the time, I sort of indicated that it would just be a matter of time, we didn't see anything systemic in our men's business that raised any concerns for us. Brunswick Group At . . . I think everybody is saying I think it's now 150 to 200 basis points of negative impact for the year. Our Unique Proposition; News & Events. Reconciliation of Non-GAAP Financial Measures 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). 02/17/21. for the fourth quarter. Industry. Boxville is a very unique collection of shipping containers designed as a space for the community to gather and local businesses to engage in commerce. You understand that any messages or information you send to our websites may be read or intercepted by others. Labor Department . 41. And it has just continued to gain momentum through each quarter and then with Q2 being sort of back at that great growth where we're going to double our business at the end of this year, two years early from when we started at the beginning of 2019. Trending: Addressable Market . June 2020 13 slides . 2019, Selling, general and administrative expenses, Basic weighted-average shares outstanding, Diluted weighted-average shares outstanding, Goodwill Thank you. Welcome to our Investors page. The Black Lives Matter movement acted as a powerful catalyst within lululemon. : For the fiscal year ended We continue to expect to open 45 to 55 net new company-operated stores in 2021. Inclusion, Diversity, Equity, and Action: Reflect the diversity of the communities we serve and operate in around the world by 2025. Creating Powerpoint presentations to Institutional Investors for the world-renowned Chief Investment Strategist, and his team of Portfolio Managers . 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.