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|lululemon athletica Appoints Angelia Powell as Vice President of Real Estate Operations|
Addition of Retail Real Estate Veteran Further Bolsters Retail
VANCOUVER, British Columbia, Feb 05, 2008 (BUSINESS WIRE) -- lululemon athletica inc. (NASDAQ: LULU; TSX: LLL) today announced that Angelia H. Powell has been appointed to its Senior Leadership Team as Vice President of Real Estate Operations. In this newly created role, Ms. Powell will oversee lululemon's real estate development in North America and on an international basis. She will report to Christine Day, Executive Vice president, Retail Operations.
Ms. Powell possesses 20 years of senior level real estate experience working for specialty retail companies during periods of expansion. She joins lululemon from New York and Company, a $1.2 billion women's specialty retailer, where she was responsible for new store growth, existing portfolio management, strategic planning and implementation of real estate initiatives. Prior to New York and Company, Ms. Powell was Director, Real Estate, Southwest Region for Limited Brands. Previously, she also served as Director, Real Estate for The Disney Store, Inc. and Williams-Sonoma, Inc., Sesame Street Retail Stores and Gymboree Corporation. She received a Bachelor of Science in Business Administration from East Carolina University.
Commenting on Ms. Powell's appointment, Robert Meers, CEO of lululemon athletica, said, "Angie's real estate expertise focused on the specialty retail sector will serve as a strategic advantage as lululemon continues to implement its retail expansion program."
Ms. Powell will be replacing Larry Gore who will be moving into Merchandise, Planning and Allocations as Senior Vice President.
About lululemon athletica inc.
lululemon athletica (NASDAQ:LULU; TSX:LLL) is a yoga-inspired athletic apparel company that creates components for people to live longer, healthier and more fun lives. By producing products that keep people active and stress free, lululemon believes that the world will be a better place. 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.
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, our prospects and strategies for future growth, the development and introduction of new products, and the implementation of our marketing and branding strategies. In many cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "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: the possibility that we may not be able to manage operations at our current size or manage growth effectively; the possibility that we may not be able to locate suitable locations to open new stores or attract customers to our stores; the possibility that we may not be able to successfully expand in the United States and other new markets; the possibility that we may not be able to finance our growth and maintain sufficient levels of cash flow; increased competition causing us to reduce the prices of our products or to increase significantly our marketing efforts in order to avoid losing market share; the possibility that we may not be able to effectively market and maintain a positive brand image; the possibility that we may not be able to maintain recent levels of comparable store sales or average sales per square foot; the possibility that we may not be able to continually innovate and provide our consumers with improved products; and the possibility that our suppliers or manufacturers may not produce or deliver our products in a timely or cost-effective manner; and other risk factors detailed in our filings with the Securities and Exchange Commission ("the SEC"), including Risk Factors contained in our final prospectus relating to our initial public offering included in our Registration Statement on Form S-1 (file no. 333-142477) filed with the SEC, as revised or supplemented by our quarterly reports on Form 10-Q filed with the SEC. Our filings with the SEC are available at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
SOURCE: lululemon athletica inc.
lululemon athletica inc. John Currie, 604-732-6124 Chief Financial Officer or Investors: ICR, Inc. Joseph Teklits / Jean Fontana, 203-682-8200
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|"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding lululemon athletica inc (PR)'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.|