VANCOUVER, British Columbia--
lululemon athletica inc. (NASDAQ:LULU) today announced financial results
for the fourth quarter and fiscal year ended February 1, 2015.
For the fourth quarter ended February 1, 2015:
-
Net revenue for the quarter increased 16% to $602.5 million from
$521.0 million in the fourth quarter of fiscal 2013.
-
Total comparable sales, which includes comparable store sales and
direct to consumer, increased by 8% for the fourth quarter on a
constant dollar basis.
-
Comparable store sales for the fourth quarter increased by 5% on a
constant dollar basis and direct to consumer net revenue increased 20%
on a constant dollar basis.
-
Direct to consumer net revenue increased 17% to $114.5 million, or
19.0% of total Company net revenue, in the fourth quarter of fiscal
2014, an increase from 18.8% of total Company net revenue in the
fourth quarter of fiscal 2013.
-
Gross profit for the quarter increased by 11% to $310.0 million, and
as a percentage of net revenue gross profit was 51.5% for the quarter
compared to 53.5% in the fourth quarter of fiscal 2013.
-
Income from operations for the quarter increased by 2% to $157.2
million, and as a percentage of net revenue was 26.1% compared to
29.6% of net revenue in the fourth quarter of fiscal 2013.
-
The effective tax rate for the quarter was 30.3% compared to 29.5% the
fourth quarter of fiscal 2013.
-
Diluted earnings per share for the quarter were $0.78 on net income of
$110.9 million, compared to diluted earnings per share of $0.75 on net
income of $109.7 million in the fourth quarter of fiscal 2013.
-
During the fourth quarter of fiscal 2014, the Company repurchased 0.4
million shares of the Company's common stock at an average cost of
$43.30 per share.
For the fiscal year ended February 1, 2015:
-
Net revenue for the fiscal year increased 13% to $1.8 billion from
$1.6 billion in fiscal 2013.
-
Total comparable sales increased by 3% for fiscal 2014 on a constant
dollar basis.
-
Comparable store sales decreased 1% on a constant dollar basis for
fiscal 2014 and direct to consumer net revenue increased 24% on a
constant dollar basis. Our corporate-owned stores open at least one
year averaged sales of $1,678 per square foot.
-
Direct to consumer net revenue increased 22% to $321.2 million, or
17.9% of total Company net revenue in fiscal 2014, an increase from
16.5% of total Company net revenue in fiscal 2013.
-
Gross profit for fiscal 2014 increased by 9% to $914.2 million, from
$840.1 million in fiscal 2013, and as a percentage of net revenue was
50.9% compared to 52.8% in fiscal 2013.
-
Income from operations for fiscal 2014 decreased by 4% to $376.0
million, from $391.4 million in fiscal 2013. As a percentage of net
revenue, income from operations decreased to 20.9% compared to 24.6%
of net revenue in fiscal 2013.
-
Tax expense for fiscal 2014 was $144.1 million, which included $33.7
million related to the repatriation of foreign earnings that will be
used to fund the share buyback program. The tax rate excluding the
$33.7 million tax expense on the repatriation of foreign earnings
would have been 28.8%, compared to 29.6% a year ago. The tax rate for
fiscal 2014, including the tax expense on the repatriation of foreign
earnings, was 37.6%.
-
Excluding the tax expense on the repatriation of foreign earnings,
diluted earnings per share were $1.89 for fiscal 2014. Including the
tax expense on the repatriation of foreign earnings, diluted earnings
per share for fiscal 2014 were $1.66, which included a $0.23 per share
impact from the tax expense on the repatriation of foreign earnings.
-
During fiscal 2014, the Company repurchased 3.7 million shares of the
Company's common stock at an average cost of $40.31 per share.
The Company ended fiscal 2014 with $664.5 million in cash and cash
equivalents compared to $698.6 million at the end of fiscal 2013.
Inventory at the end of fiscal 2014 was $208.1 million compared to
$188.8 million at the end of fiscal 2013. The Company ended the quarter
with 302 stores.
Laurent Potdevin, lululemon's CEO, stated: "Our solid performance in the
fourth quarter builds on the momentum that began in the third quarter
and reflects improved traffic and a strong guest response." Mr. Potdevin
continued: "2014 was a critical year when we strengthened our leadership
team and made important investments in our product pipeline, guest
experience, brand, and community engagement. In 2015, we expect to
substantially complete this foundational work and accelerate our
investments in innovation to drive sustainable global growth as we
continue to lead the market that we created."
Updated Outlook
For the first quarter of fiscal 2015, we expect net revenue to be in the
range of $413 million to $418 million based on a total comparable sales
increase in the low single digits on a constant dollar basis. Diluted
earnings per share are expected to be in the range of $0.31 to $0.33 for
the quarter. This guidance assumes 142.3 million diluted
weighted-average shares outstanding and a 30.2% tax rate. The guidance
does not reflect potential future repurchases of the Company's shares.
For the full fiscal 2015, we expect net revenue to be in the range of
$1.970 billion to $2.020 billion based on a total comparable sales
increase in the mid single digits on a constant dollar basis. Diluted
earnings per share are expected to be in the range of $1.85 to $1.90 for
the full year. This guidance assumes 142.6 million diluted
weighted-average shares outstanding and a 30.2% tax rate. The guidance
does not reflect potential future repurchases of the Company's shares.
Conference Call Information
A conference call to discuss fiscal 2014 results is scheduled for today,
March 26, 2015, at 9:00 a.m. Eastern time. Those interested in
participating in the call are invited to dial 1-877-303-3203
approximately 10 minutes prior to the start of the call. The conference
call will also be webcast live at
www.lululemon.com.
The webcast will be accessible on our website for approximately 30 days
after the call.
About lululemon athletica inc.
lululemon athletica inc. (NASDAQ:LULU) is a yoga-inspired athletic
apparel company with products that create transformational experiences
for people to live happy, healthy, fun lives. Setting the bar in
technical fabrics and functional designs, lululemon works with yogis and
athletes in local communities for continuous research and product
feedback.
For more information, visit
www.lululemon.com.
Non-GAAP Financial Measures
Total comparable sales in constant dollars, comparable store sales in
constant dollars, changes in direct to consumer net revenue in constant
dollars, the tax rate excluding the tax expense on the repatriation of
foreign earnings, and diluted earnings per share excluding the tax
expense on the repatriation of foreign earnings are not United States
generally accepted accounting principle ("GAAP") performance measures.
We provide constant dollar total comparable sales, comparable store
sales, and changes in direct to consumer net revenue because we use
these measures to understand the underlying growth rate of net revenue
excluding the impact of changes in foreign exchange rates, which are not
under management's control. We believe that disclosing these measures on
a constant dollar basis is useful to investors because it enables them
to better understand the level of growth of our business.
We disclose the tax rate and diluted earnings per share excluding the
tax expense on repatriated foreign earnings because of their
comparability to our historical information as well as our diluted
earnings per share guidance, which we believe is useful to investors.
The presentation of this financial information is not intended to be
considered in isolation or as a substitute for, or superior to, the
financial information prepared and presented in accordance with GAAP.
For more information on these non-GAAP financial measures, please see
the table 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.
Forward-Looking Statements:
This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934 that involve risks, uncertainties
and assumptions, such as statements regarding our future financial
condition or results of operations and our prospects and strategies for
future growth. 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. These forward-looking statements are based on
management's current expectations but they involve a number of risks and
uncertainties. Actual results and the timing of events could differ
materially from those anticipated in the forward-looking statements as a
result of risks and uncertainties, which include, without limitation:
our ability to maintain the value and reputation of our brand, including
any negative publicity regarding our products or the production methods
of our suppliers or manufacturers; the acceptability of our products to
our guests, including receiving products that comply with our technical
specifications and quality standards; our reliance on and limited
control over third-party suppliers to provide fabrics for and to produce
our products; an economic downturn or economic uncertainty in our key
markets; our highly competitive market and increasing competition;
increasing product costs and decreasing selling prices; our ability to
anticipate consumer preferences and successfully develop and introduce
new, innovative and updated products; our ability to accurately forecast
customer demand for our products; our ability to safeguard against
security breaches with respect to our information technology systems;
any material disruption of our information systems; our ability to
manage our growth and the increased complexity of our business
effectively; the fluctuating costs of raw materials; our ability to
expand internationally in light of our limited operating experience and
limited brand recognition in new international markets; our ability to
deliver our products to the market and to meet customer expectations if
we have problems with our distribution system; imitation by our
competitors; our ability to protect our intellectual property rights;
our ability to cancel store leases if an existing or new store is not
profitable; increasing labor costs and other factors associated with the
production of our products in South and South East Asia; our ability to
successfully open new store locations in a timely manner; our ability to
comply with trade and other regulations; the continued service of our
senior management; seasonality; fluctuations in foreign currency
exchange rates; the operations of many of our suppliers are subject to
international and other risks; our ability to source our merchandise
profitably or at all; our exposure to various types of litigation; and
other risks and uncertainties set out in filings made from time to time
with the United States Securities and Exchange Commission and available
at
www.sec.gov,
including, without limitation, our most recent reports on Form 10-K and
Form 10-Q. You 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. 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.
|
|
|
|
|
lululemon athletica inc.
Condensed Consolidated Statements of Operations
Expressed in thousands, except per share amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Thirteen Weeks
Ended
February 1,
2015
|
|
Thirteen Weeks
Ended
February 2,
2014
|
|
|
Fifty-Two
Weeks Ended
February 1,
2015
|
|
Fifty-Two
Weeks Ended
February 2,
2014
|
|
|
|
|
(unaudited)
|
|
(unaudited)
|
|
|
|
|
|
|
Net revenue
|
|
|
$
|
602,491
|
|
|
$
|
520,993
|
|
|
|
$
|
1,797,213
|
|
|
$
|
1,591,188
|
|
|
Costs of goods sold
|
|
|
292,450
|
|
|
242,203
|
|
|
|
883,033
|
|
|
751,112
|
|
|
Gross profit
|
|
|
310,041
|
|
|
278,790
|
|
|
|
914,180
|
|
|
840,076
|
|
|
As a percent of net revenue
|
|
|
51.5
|
%
|
|
53.5
|
%
|
|
|
50.9
|
%
|
|
52.8
|
%
|
|
Selling, general and administrative expenses
|
|
|
152,853
|
|
|
124,643
|
|
|
|
538,147
|
|
|
448,718
|
|
|
As a percent of net revenue
|
|
|
25.4
|
%
|
|
23.9
|
%
|
|
|
30.0
|
%
|
|
28.2
|
%
|
|
Income from operations
|
|
|
157,188
|
|
|
154,147
|
|
|
|
376,033
|
|
|
391,358
|
|
|
As a percent of net revenue
|
|
|
26.1
|
%
|
|
29.6
|
%
|
|
|
20.9
|
%
|
|
24.6
|
%
|
|
Other income (expense), net
|
|
|
1,755
|
|
|
1,519
|
|
|
|
7,102
|
|
|
5,768
|
|
|
Income before provision for income taxes
|
|
|
158,943
|
|
|
155,666
|
|
|
|
383,135
|
|
|
397,126
|
|
|
Provision for income taxes
|
|
|
48,090
|
|
|
45,974
|
|
|
|
144,102
|
|
|
117,579
|
|
|
Net income
|
|
|
$
|
110,853
|
|
|
$
|
109,692
|
|
|
|
$
|
239,033
|
|
|
$
|
279,547
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per share
|
|
|
$
|
0.78
|
|
|
$
|
0.75
|
|
|
|
$
|
1.66
|
|
|
$
|
1.93
|
|
|
Diluted earnings per share
|
|
|
$
|
0.78
|
|
|
$
|
0.75
|
|
|
|
$
|
1.66
|
|
|
$
|
1.91
|
|
|
Basic weighted-average shares outstanding
|
|
|
141,999
|
|
|
145,235
|
|
|
|
143,935
|
|
|
144,913
|
|
|
Diluted weighted-average shares outstanding
|
|
|
142,346
|
|
|
146,035
|
|
|
|
144,298
|
|
|
146,043
|
|
|
|
|
|
|
|
|
lululemon athletica inc.
Condensed Consolidated Balance Sheets
Expressed in thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
February 1,
2015
|
|
|
February 2,
2014
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
|
$
|
664,479
|
|
|
$
|
698,649
|
|
|
Inventories
|
|
|
|
|
208,116
|
|
|
|
188,790
|
|
|
Other current assets
|
|
|
|
|
78,417
|
|
|
|
58,100
|
|
|
Total current assets
|
|
|
|
|
951,012
|
|
|
|
945,539
|
|
|
Property and equipment, net
|
|
|
|
|
296,008
|
|
|
|
255,603
|
|
|
Goodwill and intangible assets, net
|
|
|
|
|
26,163
|
|
|
|
28,201
|
|
|
Deferred income taxes and other non-current assets
|
|
|
|
|
23,030
|
|
|
|
23,045
|
|
|
Total assets
|
|
|
|
$
|
1,296,213
|
|
|
$
|
1,252,388
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
|
Current liabilities
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
|
|
$
|
9,339
|
|
|
$
|
12,647
|
|
|
Accrued inventory liabilities
|
|
|
|
|
22,296
|
|
|
|
15,415
|
|
|
Accrued compensation and related expenses
|
|
|
|
|
29,932
|
|
|
|
19,445
|
|
|
Income taxes payable
|
|
|
|
|
20,073
|
|
|
|
769
|
|
|
Unredeemed gift card liability
|
|
|
|
|
46,252
|
|
|
|
38,343
|
|
|
Other accrued liabilities
|
|
|
|
|
31,989
|
|
|
|
29,595
|
|
|
Total current liabilities
|
|
|
|
|
159,881
|
|
|
|
116,214
|
|
|
Deferred income tax liability
|
|
|
|
|
3,633
|
|
|
|
3,977
|
|
|
Other non-current liabilities
|
|
|
|
|
43,131
|
|
|
|
35,515
|
|
|
Stockholders' equity
|
|
|
|
|
1,089,568
|
|
|
|
1,096,682
|
|
|
Total liabilities and stockholders' equity
|
|
|
|
$
|
1,296,213
|
|
|
$
|
1,252,388
|
|
|
|
|
|
|
|
|
lululemon athletica inc.
Condensed Consolidated Statements of Cash Flows
Expressed in thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fifty-Two
Weeks Ended
February 1,
2015
|
|
|
Fifty-Two
Weeks Ended
February 2,
2014
|
|
|
Cash flows from operating activities
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
|
$
|
239,033
|
|
|
|
$
|
279,547
|
|
|
|
Items not affecting cash
|
|
|
|
|
66,839
|
|
|
|
|
48,864
|
|
|
|
Other, including net changes in other non-cash balances
|
|
|
|
|
8,577
|
|
|
|
|
(50,072
|
)
|
|
|
Net cash provided by operating activities
|
|
|
|
|
314,449
|
|
|
|
|
278,339
|
|
|
|
Net cash used in investing activities
|
|
|
|
|
(119,733
|
)
|
|
|
|
(106,408
|
)
|
|
|
Net cash (used in) provided by financing activities
|
|
|
|
|
(149,077
|
)
|
|
|
|
8,907
|
|
|
|
Effect of exchange rate changes on cash
|
|
|
|
|
(79,809
|
)
|
|
|
|
(72,368
|
)
|
|
|
(Decrease) increase in cash and cash equivalents
|
|
|
|
|
(34,170
|
)
|
|
|
|
108,470
|
|
|
|
Cash and cash equivalents, beginning of year
|
|
|
|
$
|
698,649
|
|
|
|
$
|
590,179
|
|
|
|
Cash and cash equivalents, end of year
|
|
|
|
$
|
664,479
|
|
|
|
$
|
698,649
|
|
|
|
|
|
|
|
lululemon athletica inc.
Reconciliation of Non-GAAP Financial Measures
Constant dollar total comparable sales (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Thirteen Weeks
Ended
February 1,
2015
|
|
|
Thirteen Weeks
Ended
February 2,
20141
|
|
|
Fifty-Two
Weeks Ended
February 1,
2015
|
|
|
Fifty-Two
Weeks Ended
February 2,
20142
|
|
Total comparable sales3
|
|
|
|
6%
|
|
|
2%
|
|
|
1%
|
|
|
7%
|
|
Adjustments due to foreign exchange rate changes
|
|
|
|
2%
|
|
|
2%
|
|
|
2%
|
|
|
2%
|
|
Total comparable sales in constant dollars3
|
|
|
|
8%
|
|
|
4%
|
|
|
3%
|
|
|
9%
|
|
__________
|
|
1The fourth quarter of fiscal 2013 was a 13 week period
while the fourth quarter of fiscal 2012 was a 14 week period. The
fourteenth week's sales of the fourth quarter of fiscal 2012 are
not included in the calculation of the total comparable sales
changes.
2Fiscal 2013 was a 52 week year while fiscal 2012 was a
53 week year. The fifty-third week's sales of fiscal 2012 are not
included in the calculation of the total comparable sales changes.
3Total comparable sales includes comparable store sales
and direct to consumer sales. Comparable store sales reflects net
revenue at corporate-owned stores that have been open for at least
12 months.
|
|
|
|
|
|
Constant dollar comparable store sales (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Thirteen Weeks
Ended
February 1,
2015
|
|
|
Thirteen Weeks
Ended
February 2,
20141
|
|
|
Fifty-Two
Weeks Ended
February 1,
2015
|
|
|
Fifty-Two
Weeks Ended
February 2,
20142
|
|
Comparable store sales3
|
|
|
|
2%
|
|
|
(5)%
|
|
|
(3)%
|
|
|
2%
|
|
Adjustments due to foreign exchange rate changes
|
|
|
|
3%
|
|
|
3%
|
|
|
2%
|
|
|
2%
|
|
Comparable store sales in constant dollars3
|
|
|
|
5%
|
|
|
(2)%
|
|
|
(1)%
|
|
|
4%
|
|
__________
|
|
1The fourth quarter of fiscal 2013 was a 13 week period
while the fourth quarter of fiscal 2012 was a 14 week period. The
fourteenth week's sales of the fourth quarter of fiscal 2012 are
not included in the calculation of the total comparable sales
changes.
2Fiscal 2013 was a 52 week year while fiscal 2012 was a
53 week year. The fifty-third week's sales of fiscal 2012 are not
included in the calculation of the total comparable sales changes.
3Comparable store sales reflects net revenue at
corporate-owned stores that have been open for at least 12 months.
|
|
|
|
|
|
Constant dollar changes in direct to consumer net revenue
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Thirteen Weeks
Ended
February 1,
2015
|
|
Thirteen Weeks
Ended
February 2,
20141
|
|
Fifty-Two
Weeks Ended
February 1,
2015
|
|
Fifty-Two
Weeks Ended
February 2,
20142
|
|
Change in direct to consumer net revenue
|
|
17%
|
|
32%
|
|
22%
|
|
36%
|
|
Adjustments due to foreign exchange rate changes
|
|
3%
|
|
3%
|
|
2%
|
|
2%
|
|
Change in direct to consumer net revenue in constant dollars
|
|
20%
|
|
35%
|
|
24%
|
|
38%
|
|
__________
|
|
1The fourth quarter of fiscal 2013 was a 13 week period
while the fourth quarter of fiscal 2012 was a 14 week period. The
fourteenth week's sales of the fourth quarter of fiscal 2012 are
not included in the calculation of the total comparable sales
changes.
2Fiscal 2013 was a 52 week year while fiscal 2012 was a
53 week year. The fifty-third week's sales of fiscal 2012 are not
included in the calculation of the total comparable sales changes.
|
|
|
|
|
|
Tax rate, excluding the tax expense on repatriated foreign
earnings (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fifty-Two
Weeks Ended
February 1,
2015
|
|
|
Fifty-Two
Weeks Ended
February 2,
2014
|
|
Tax rate
|
|
|
|
37.6%
|
|
|
29.6%
|
|
Tax expense on repatriated foreign earnings
|
|
|
|
(8.8)%
|
|
|
—%
|
|
Tax rate, excluding the tax expense on repatriated foreign earnings
|
|
|
|
28.8%
|
|
|
29.6%
|
|
|
|
|
|
Diluted earnings per share, excluding the tax expense on
repatriated foreign earnings (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fifty-Two
Weeks Ended
February 1,
2015
|
|
|
Fifty-Two
Weeks Ended
February 2,
2014
|
|
Diluted earnings per share
|
|
|
|
$
|
1.66
|
|
|
$
|
1.91
|
|
Tax expense on repatriated foreign earnings
|
|
|
|
0.23
|
|
|
—
|
|
Diluted earnings per share, excluding the tax expense on repatriated
foreign earnings
|
|
|
|
$
|
1.89
|
|
|
$
|
1.91
|
|
|
|
|
|
|
|
lululemon athletica inc.
Store Count and Square Footage1
Fifty-Two Weeks Ended February 1, 2015
Square Footage Expressed in Thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
Stores Open at
the
Beginning of
the Quarter
|
|
Number of
Stores Opened
During the
Quarter2
|
|
Number of
Stores Closed
During the
Quarter
|
|
Number of
Stores Open
at the End of
the Quarter
|
|
|
1st Quarter
|
|
|
|
254
|
|
9
|
|
—
|
|
263
|
|
|
2nd Quarter
|
|
|
|
263
|
|
8
|
|
1
|
|
270
|
|
|
3rd Quarter
|
|
|
|
270
|
|
19
|
|
—
|
|
289
|
|
|
4th Quarter
|
|
|
|
289
|
|
13
|
|
—
|
|
302
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Gross
Square Feet at
the Beginning
of the Quarter
|
|
Gross Square
Feet Added
During the
Quarter2,3
|
|
Gross Square
Feet Lost
During the
Quarter3
|
|
Total Gross
Square Feet at
the End of the
Quarter
|
|
|
1st Quarter
|
|
|
|
740
|
|
24
|
|
—
|
|
764
|
|
|
2nd Quarter
|
|
|
|
764
|
|
26
|
|
3
|
|
787
|
|
|
3rd Quarter
|
|
|
|
787
|
|
61
|
|
—
|
|
848
|
|
|
4th Quarter
|
|
|
|
848
|
|
46
|
|
—
|
|
894
|
|
|
__________
|
|
1Store count and square footage summary includes
corporate-owned stores which are branded lululemon athletica and
ivivva athletica.
2Number of stores opened during the quarter that are
branded lululemon athletica and ivivva athletica.
3Gross square feet added/lost during the quarter
includes net square foot additions for corporate-owned stores
which have been renovated or relocated in the quarter.
|
ICR, Inc.
Investor Contact:Joseph Teklits/Jean
Fontana, 203-682-8200
or
Media Contact: Alecia
Pulman, 203-682-8224/
Source: lululemon athletica inc. through BUSINESS WIRE by press release ©
News Provided by Acquire Media
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