VANCOUVER, British Columbia--(BUSINESS WIRE)--Mar. 29, 2017--
lululemon athletica inc. (NASDAQ:LULU) today announced financial results
for the fourth quarter and fiscal year ended January 29, 2017.
For the fourth quarter ended January 29, 2017:
-
Net revenue increased 12% to $789.9 million from $704.3 million in the
fourth quarter of fiscal 2015. On a constant dollar basis, net revenue
increased 12%.
-
Total comparable sales, which includes comparable store sales and
direct to consumer, increased 8%, or by 7% on a constant dollar basis.
-
Comparable store sales increased 6%, or by 6% on a constant dollar
basis.
-
Direct to consumer net revenue increased 12% to $164.3 million, or by
12% on a constant dollar basis.
-
Gross profit increased 21% to $427.9 million, and as a percentage of
net revenue was 54.2% compared to 50.3% in the fourth quarter of
fiscal 2015.
-
Income from operations increased 18% to $196.6 million, and as a
percentage of net revenue was 24.9% compared to 23.6% in the fourth
quarter of fiscal 2015.
-
Income tax expense increased to $61.4 million from $49.8 million in
the fourth quarter of fiscal 2015, and the effective tax rate was
31.1% compared to 29.8% in the fourth quarter of fiscal 2015.
Excluding certain tax and related interest adjustments, the effective
tax rate was 30.6% compared to 29.6% in the fourth quarter of fiscal
2015.
-
Diluted earnings per share were $0.99 compared to $0.85 in the fourth
quarter of fiscal 2015. Excluding certain tax and related interest
adjustments, diluted earnings per share were $1.00 compared to $0.85
for the fourth quarter of fiscal 2015.
For the fiscal year ended January 29, 2017:
-
Net revenue increased 14% to $2.3 billion from $2.1 billion in fiscal
2015. On a constant dollar basis, net revenue increased 14%.
-
Total comparable sales increased 6%, or by 7% on a constant dollar
basis.
-
Comparable store sales increased 4%, or by 5% on a constant dollar
basis. Company-operated stores which have been open for at least one
year averaged sales of $1,521 per square foot.
-
Direct to consumer net revenue increased 13% to $453.3 million, or 13%
on a constant dollar basis.
-
Gross profit increased 20% to $1.2 billion, and as a percentage of net
revenue was 51.2% compared to 48.4% in fiscal 2015.
-
Income from operations increased 14% to $421.2 million, and as a
percentage of net revenue, was 18.0% compared to 17.9% in fiscal 2015.
-
Income tax expense increased to $119.3 million from $102.4 million in
fiscal 2015, and the effective tax rate was 28.2% compared to 27.8%
for fiscal 2015. Excluding certain tax and related interest
adjustments, the effective tax rate was 30.7% compared to 29.5% for
fiscal 2015.
-
Diluted earnings per share were $2.21 compared to $1.89 in fiscal
2015. Excluding certain tax and related interest adjustments, diluted
earnings per share were $2.14 compared to $1.86 in fiscal 2015.
The Company ended fiscal 2016 with $734.8 million in cash and cash
equivalents compared to $501.5 million at the end of fiscal 2015.
Inventories at the end of fiscal 2016 increased by 5% to $298.4 million
compared to $284.0 million at the end of fiscal 2015. The Company ended
the year with 406 stores.
Laurent Potdevin, CEO, lululemon, commented: "2016 marks a milestone
year where our successful execution against long-term strategies
returned the company to positive operating income growth for the first
time in three years. These results reflect our strong brand and solid
foundation now in place to drive our future performance."
Mr. Potdevin added: "Although we’ve had a slow start to 2017, our teams
are passionately committed to delivering on our robust plans across
product innovation, digital, North America and international as we
realize our ambitious vision for the future."
Fiscal 2017 Outlook
For the first quarter of fiscal 2017, we expect net revenue to be in the
range of $510 million to $515 million based on a total comparable sales
decrease in the low-single digits on a constant dollar basis. Diluted
earnings per share are expected to be in the range of $0.25 to $0.27 for
the quarter. This guidance assumes 137.3 million diluted
weighted-average shares outstanding and a 31.2% tax rate. The guidance
does not reflect potential future repurchases of the Company's shares.
For the full fiscal 2017, we expect net revenue to be in the range of
$2.550 billion to $2.600 billion 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 $2.26 to $2.36 for
the full year. This guidance assumes 137.5 million diluted
weighted-average shares outstanding and a 31.2% tax rate. The guidance
does not reflect potential future repurchases of the Company's shares.
Conference Call Information
A conference call to discuss fiscal 2016 results is scheduled for today,
March 29, 2017, at 4:30 p.m. Eastern time. Those interested in
participating in the call are invited to dial 1-800-319-4610 or
1-604-638-5340, if calling internationally, approximately 10 minutes
prior to the start of the call. A live webcast of the conference call
will be available online at: http://investor.lululemon.com/events.cfm.
A replay will be made available online approximately two hours following
the live call for a period of 30 days.
About lululemon athletica inc.
lululemon athletica inc. (NASDAQ:LULU) is a healthy lifestyle inspired
athletic apparel company for yoga, running, training, and most other
sweaty pursuits, 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
Constant dollar changes in net revenue, total comparable sales,
comparable store sales, and direct to consumer net revenue, and the
effective tax rate and diluted earnings per share excluding certain tax
and related interest adjustments, are not United States generally
accepted accounting principle ("GAAP") financial measures.
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. We provide constant dollar changes in
net revenue, 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. 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 effective tax rate and diluted earnings per share
excluding certain tax and related interest adjustments because of their
comparability to our historical information, 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 with greater
prominence to, the financial information prepared and presented in
accordance with GAAP. 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.
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 highly competitive market and
increasing competition; 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; 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;
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; changes in tax laws
or unanticipated tax liabilities, capital or financing needs in the
United States, or our intentions with respect to the reinvestment of
foreign earnings; our ability to manage our growth and the increased
complexity of our business effectively; 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 source our merchandise
profitably or at all; 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 exposure to various types of litigation; actions of
activist stockholders; 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
Unaudited; Expressed in thousands, except per share amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Thirteen Weeks
|
|
|
Thirteen Weeks
|
|
|
Fifty-Two Weeks
|
|
|
Fifty-Two Weeks
|
|
|
|
|
Ended January
|
|
|
Ended January
|
|
|
Ended January
|
|
|
Ended January
|
|
|
|
|
29, 2017
|
|
|
31, 2016
|
|
|
29, 2017
|
|
|
31, 2016
|
|
Net revenue
|
|
|
$
|
789,940
|
|
|
|
$
|
704,276
|
|
|
|
$
|
2,344,392
|
|
|
|
$
|
2,060,523
|
|
|
Costs of goods sold
|
|
|
362,041
|
|
|
|
349,809
|
|
|
|
1,144,775
|
|
|
|
1,063,357
|
|
|
Gross profit
|
|
|
427,899
|
|
|
|
354,467
|
|
|
|
1,199,617
|
|
|
|
997,166
|
|
|
As a percent of net revenue
|
|
|
54.2
|
%
|
|
|
50.3
|
%
|
|
|
51.2
|
%
|
|
|
48.4
|
%
|
|
Selling, general and administrative expenses
|
|
|
231,270
|
|
|
|
188,184
|
|
|
|
778,465
|
|
|
|
628,090
|
|
|
As a percent of net revenue
|
|
|
29.3
|
%
|
|
|
26.7
|
%
|
|
|
33.2
|
%
|
|
|
30.5
|
%
|
|
Income from operations
|
|
|
196,629
|
|
|
|
166,283
|
|
|
|
421,152
|
|
|
|
369,076
|
|
|
As a percent of net revenue
|
|
|
24.9
|
%
|
|
|
23.6
|
%
|
|
|
18.0
|
%
|
|
|
17.9
|
%
|
|
Other income (expense), net
|
|
|
857
|
|
|
|
938
|
|
|
|
1,577
|
|
|
|
(581
|
)
|
|
Income before income tax expense
|
|
|
197,486
|
|
|
|
167,221
|
|
|
|
422,729
|
|
|
|
368,495
|
|
|
Income tax expense
|
|
|
61,351
|
|
|
|
49,805
|
|
|
|
119,348
|
|
|
|
102,448
|
|
|
Net income
|
|
|
$
|
136,135
|
|
|
|
$
|
117,416
|
|
|
|
$
|
303,381
|
|
|
|
$
|
266,047
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per share
|
|
|
$
|
0.99
|
|
|
|
$
|
0.85
|
|
|
|
$
|
2.21
|
|
|
|
$
|
1.90
|
|
|
Diluted earnings per share
|
|
|
$
|
0.99
|
|
|
|
$
|
0.85
|
|
|
|
$
|
2.21
|
|
|
|
$
|
1.89
|
|
|
Basic weighted-average shares outstanding
|
|
|
137,059
|
|
|
|
138,076
|
|
|
|
137,086
|
|
|
|
140,365
|
|
|
Diluted weighted-average shares outstanding
|
|
|
137,245
|
|
|
|
138,240
|
|
|
|
137,302
|
|
|
|
140,610
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
lululemon athletica inc.
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Balance Sheets
Unaudited; Expressed in thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
January 29,
|
|
|
January 31,
|
|
|
|
|
2017
|
|
|
2016
|
|
ASSETS
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
$
|
734,846
|
|
|
|
$
|
501,482
|
|
Inventories
|
|
|
298,432
|
|
|
|
284,009
|
|
Prepaid and receivable income taxes
|
|
|
81,190
|
|
|
|
91,453
|
|
Other current assets
|
|
|
48,269
|
|
|
|
40,095
|
|
Total current assets
|
|
|
1,162,737
|
|
|
|
917,039
|
|
Property and equipment, net
|
|
|
423,499
|
|
|
|
349,605
|
|
Goodwill and intangible assets, net
|
|
|
24,557
|
|
|
|
24,777
|
|
Deferred income taxes and other non-current assets
|
|
|
46,748
|
|
|
|
22,656
|
|
Total assets
|
|
|
$
|
1,657,541
|
|
|
|
$
|
1,314,077
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY
|
|
|
|
|
|
|
|
Current liabilities
|
|
|
|
|
|
|
|
Accounts payable
|
|
|
$
|
24,846
|
|
|
|
$
|
10,381
|
|
Accrued inventory liabilities
|
|
|
8,601
|
|
|
|
25,451
|
|
Accrued compensation and related expenses
|
|
|
55,238
|
|
|
|
43,524
|
|
Income taxes payable
|
|
|
30,290
|
|
|
|
37,736
|
|
Unredeemed gift card liability
|
|
|
70,454
|
|
|
|
57,736
|
|
Other accrued liabilities
|
|
|
52,020
|
|
|
|
50,676
|
|
Total current liabilities
|
|
|
241,449
|
|
|
|
225,504
|
|
Deferred income tax liability
|
|
|
7,262
|
|
|
|
10,759
|
|
Other non-current liabilities
|
|
|
48,857
|
|
|
|
50,332
|
|
Stockholders' equity
|
|
|
1,359,973
|
|
|
|
1,027,482
|
|
Total liabilities and stockholders' equity
|
|
|
$
|
1,657,541
|
|
|
|
$
|
1,314,077
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
lululemon athletica inc.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Statements of Cash Flows
Unaudited; Expressed in thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
Fifty-Two
|
|
|
Fifty-Two
|
|
|
|
|
Weeks Ended
|
|
|
Weeks Ended
|
|
|
|
|
January 29,
|
|
|
January 31,
|
|
|
|
|
2017
|
|
|
2016
|
|
Cash flows from operating activities
|
|
|
|
|
|
|
|
Net income
|
|
|
$
|
303,381
|
|
|
|
$
|
266,047
|
|
|
Items not affecting cash
|
|
|
81,135
|
|
|
|
92,436
|
|
|
Changes in operating assets and liabilities
|
|
|
603
|
|
|
|
(59,743
|
)
|
|
Net cash provided by operating activities
|
|
|
385,119
|
|
|
|
298,740
|
|
|
Net cash used in investing activities
|
|
|
(149,511
|
)
|
|
|
(143,487
|
)
|
|
Net cash used in financing activities
|
|
|
(25,338
|
)
|
|
|
(273,693
|
)
|
|
Effect of exchange rate changes on cash
|
|
|
23,094
|
|
|
|
(44,557
|
)
|
|
Increase (decrease) in cash and cash equivalents
|
|
|
233,364
|
|
|
|
(162,997
|
)
|
|
Cash and cash equivalents, beginning of year
|
|
|
$
|
501,482
|
|
|
|
$
|
664,479
|
|
|
Cash and cash equivalents, end of year
|
|
|
$
|
734,846
|
|
|
|
$
|
501,482
|
|
|
|
|
|
|
|
|
|
|
|
|
|
lululemon athletica inc.
Reconciliation of Non-GAAP Financial Measures
Unaudited
Constant dollar changes in net revenue, total comparable sales,
comparable store sales, and direct to consumer net revenue
The below changes in net revenue, total comparable sales, comparable
store sales, and direct to consumer net revenue show the net change for
the fourth quarter of fiscal 2016 compared to the fourth quarter of
fiscal 2015.
|
|
|
|
|
|
Change in Total
|
|
|
Change in
|
|
|
Change in Direct
|
|
|
|
Change in Net
|
|
|
Comparable
|
|
|
Comparable
|
|
|
to Consumer Net
|
|
|
|
Revenue
|
|
|
Sales1,2
|
|
|
Store Sales2
|
|
|
Revenue
|
|
Increase
|
|
12
|
%
|
|
|
8
|
%
|
|
|
6
|
%
|
|
|
12
|
%
|
|
Adjustments due to foreign exchange rate changes
|
|
—
|
|
|
|
(1
|
)
|
|
|
—
|
|
|
|
—
|
|
|
Increase in constant dollars
|
|
12
|
%
|
|
|
7
|
%
|
|
|
6
|
%
|
|
|
12
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The below changes in net revenue, total comparable sales, comparable
store sales, and direct to consumer net revenue show the net change for
fiscal 2016 compared to fiscal 2015.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in Total
|
|
|
Change in
|
|
|
Change in Direct to
|
|
|
|
Change in
|
|
|
Comparable
|
|
|
Comparable
|
|
|
Consumer Net
|
|
|
|
Net Revenue
|
|
|
Sales1,2
|
|
|
Store Sales2
|
|
|
Revenue
|
|
Increase
|
|
14
|
%
|
|
|
6
|
%
|
|
|
4
|
%
|
|
|
13
|
%
|
|
Adjustments due to foreign exchange rate changes
|
|
—
|
|
|
|
1
|
|
|
|
1
|
|
|
|
—
|
|
|
Increase in constant dollars
|
|
14
|
%
|
|
|
7
|
%
|
|
|
5
|
%
|
|
|
13
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
__________
1Total comparable sales includes comparable store sales and
direct to consumer sales.
2Comparable store sales
reflects net revenue from company-operated stores that have been open
for at least 12 months, or open for at least 12 months after being
significantly expanded.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax rate and diluted earnings per share, excluding
tax and related interest adjustments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Thirteen Weeks
|
|
|
Thirteen Weeks
|
|
|
Fifty-Two Weeks
|
|
|
Fifty-Two Weeks
|
|
|
|
|
Ended January
|
|
|
Ended January
|
|
|
Ended January
|
|
|
Ended January
|
|
|
|
|
29, 2017
|
|
|
31, 2016
|
|
|
29, 2017
|
|
|
31, 2016
|
|
Effective tax rate
|
|
|
31.1
|
%
|
|
|
29.8
|
%
|
|
|
28.2
|
%
|
|
|
27.8
|
%
|
|
Tax and related interest adjustments1
|
|
|
(0.5
|
)
|
|
|
(0.2
|
)
|
|
|
2.5
|
|
|
|
1.7
|
|
|
Effective tax rate, excluding tax and related interest adjustments
|
|
|
30.6
|
%
|
|
|
29.6
|
%
|
|
|
30.7
|
%
|
|
|
29.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Thirteen Weeks
|
|
|
Thirteen Weeks
|
|
|
Fifty-Two Weeks
|
|
Fifty-Two Weeks
|
|
|
|
Ended January
|
|
|
Ended January
|
|
|
Ended January
|
|
Ended January
|
|
|
|
29, 2017
|
|
|
31, 2016
|
|
|
29, 2017
|
|
31, 2016
|
|
Diluted earnings per share
|
|
$
|
0.99
|
|
|
|
$
|
0.85
|
|
|
|
$
|
2.21
|
|
|
$
|
1.89
|
|
|
Tax and related interest adjustments1
|
|
0.01
|
|
|
|
—
|
|
|
|
(0.07
|
)
|
|
(0.03
|
)
|
|
Diluted earnings per share, excluding tax and related interest
adjustments
|
|
$
|
1.00
|
|
|
|
$
|
0.85
|
|
|
|
$
|
2.14
|
|
|
$
|
1.86
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
__________
1These adjustments relate to the Company's transfer pricing
arrangements and taxes associated with the repatriation of foreign
earnings. Please refer to Note 15 to the audited consolidated financial
statements included in Item 8 of Part II of the Company's Report on Form
10-K to be filed with the SEC on or about March 29, 2017 for an
explanation as to the nature of these items.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
lululemon athletica inc.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Store Count and Square Footage1
Fifty-Two Weeks Ended January 29, 2017
Square Footage Expressed in Thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
|
|
|
Number of
|
|
|
Number of
|
|
|
Number of
|
|
|
|
|
Stores Open at
|
|
|
Stores Opened
|
|
|
Stores Closed
|
|
|
Stores Open
|
|
|
|
|
the Beginning
|
|
|
During the
|
|
|
During the
|
|
|
at the End of
|
|
|
|
|
of the Quarter
|
|
|
Quarter
|
|
|
Quarter
|
|
|
the Quarter
|
|
1st Quarter
|
|
|
363
|
|
|
|
11
|
|
|
|
1
|
|
|
|
373
|
|
2nd Quarter
|
|
|
373
|
|
|
|
6
|
|
|
|
—
|
|
|
|
379
|
|
3rd Quarter
|
|
|
379
|
|
|
|
12
|
|
|
|
2
|
|
|
|
389
|
|
4th Quarter
|
|
|
389
|
|
|
|
17
|
|
|
|
—
|
|
|
|
406
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Gross Square
|
|
|
Gross Square
|
|
|
Gross Square
|
|
|
Total Gross
|
|
|
|
Feet at the
|
|
|
Feet Added
|
|
|
Feet Lost
|
|
|
Square Feet at
|
|
|
|
Beginning of the
|
|
|
During the
|
|
|
During the
|
|
|
the End of the
|
|
|
|
Quarter
|
|
|
Quarter2
|
|
|
Quarter3
|
|
|
Quarter
|
|
1st Quarter
|
|
1,071
|
|
|
|
26
|
|
|
|
2
|
|
|
|
1,095
|
|
2nd Quarter
|
|
1,095
|
|
|
|
22
|
|
|
|
—
|
|
|
|
1,117
|
|
3rd Quarter
|
|
1,117
|
|
|
|
32
|
|
|
|
5
|
|
|
|
1,144
|
|
4th Quarter
|
|
1,144
|
|
|
|
47
|
|
|
|
1
|
|
|
|
1,190
|
__________
1Store count and square footage summary includes
company-operated stores which are branded lululemon and ivivva.
2Gross
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170329006089/en/
Source: lululemon athletica inc.
ICR, Inc.
Investors:
Joseph Teklits/Caitlin Morahan
203-682-8200
or
Media:
Alecia
Pulman
203-682-8224
|
View printer-friendly version
