VANCOUVER, British Columbia – (BUSINESS WIRE) – Jan 11, 2021–
lululemon athletica inc. (NASDAQ: LULU) announced today that the company now expects revenue and earnings for the fourth quarter of fiscal 2020, ending January 31, 2021, to be at the high end of its previous expectations.
Calvin McDonald, Chief Executive Officer, commented, “We are pleased with the momentum over the vacation as our investments in Lululemon and MIRROR have enabled us to connect with guests both physically and digitally. We remain confident about our opportunities in 2021 and are committed to our “Power of Three” growth plan. “
For the fourth quarter of fiscal 2020 compared to the fourth quarter of fiscal 2019, the company now expects the rate of net sales growth to be at the high end of its expectations for medium to high teens. The company also expects the adjusted diluted earnings per share growth rate to now be at the high end of its mid-single-digit expectation.
Members of the management team will meet virtually with analysts and investors at the ICR conference from January 11-13, 2021.
Please see the “Non-GAAP Financial Measures” section for more information.
About lululemon athletica inc.
lululemon athletica inc. (NASDAQ: LULU) is a healthy lifestyle-inspired sportswear company for yoga, running, exercise, and most other sweaty activities that creates transformative products and experiences that enable people to live the lives they love. Setting the standard in technical fabrics and functional designs, Lululemon works with yogis and athletes in local communities to enable ongoing research and product feedback. Please visit www.lululemon.com for more information.
Forward-looking statements:
This press release contains estimates, projections, statements about the company’s business plans, goals and expected results of operations 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. In many instances, words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” identify forward-looking statements. “Outlook”, “believes”, “intends”, “estimates”, “forecasts”, “potential” or the negative of these terms or any other comparable terminology. These forward-looking statements also contain the company’s guidelines and prospects. These statements are based on management’s current expectations, but involve a number of risks and uncertainties. The actual results and the timing of events could differ materially from those anticipated in the forward-looking statements due to risks and uncertainties. These include, but are not limited to: the company’s ability to maintain its brand value and reputation; the current COVID-19 coronavirus pandemic and related government, private sector and individual consumer action; its highly competitive market and increasing competition; Increase in product costs and decrease in sales prices; its ability to anticipate consumer preferences and successfully develop and introduce new, innovative, and updated products; its ability to accurately predict customer demand for its products; Changes in consumer purchasing preferences and shifts in sales channels; its ability to expand internationally in new international markets due to limited operational experience and brand awareness; its ability to realize the potential benefits and synergies sought with the acquisition of MIRROR; its ability to effectively manage its growth and the increasing complexity of its business; his ability to open new branches on time and successfully; Seasonality; the reliance on and limited control over third parties to supply and manufacture substances for their products; The operations of many of its suppliers are subject to international and other risks. Suppliers or manufacturers who do not comply with the supplier code or applicable laws; its ability to bring its products to market and meet guest expectations when it has problems with its distribution system; rising labor costs and other factors related to the manufacture of its products in South and Southeast Asia; its ability to protect itself from security breaches related to its information technology systems; any significant disruption of its information systems; its ability to make technology-based systems work effectively and grow its e-commerce business worldwide; an economic recession, depression, or downturn, or economic uncertainty in its key markets; global economic and political conditions and global events such as health pandemics; its ability to obtain and sell its goods for profit or at all when new trade restrictions are imposed or existing trade restrictions become more burdensome; Changes in tax laws or unexpected tax liabilities; its ability to comply with trade and other regulations; Exchange rate fluctuations; Imitation by its competitors; its ability to protect its intellectual property rights; conflicting brands and preventing certain products from being sold; its exposure to various types of litigation; and other risks and uncertainties set forth in the risks filed from time to time with the Securities and Exchange Commission and available at www.sec.gov, including, but not limited to, the most recent reports on Form 10 -K and Form 10-Q. You are urged to carefully consider these factors in evaluating the forward-looking statements contained herein, and you are cautioned not to place undue reliance on any forward-looking statements which, in their entirety, are qualified by these cautionary statements. The forward-looking statements contained 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 future events or circumstances, except as required by law.
Non-GAAP Financial Measures
The expectation of adjusted earnings per share also excludes certain integration- and acquisition-related compensation costs that are incurred in connection with the acquisition of MIRROR, as well as the associated tax effects. The presentation of this financial information is not intended to be viewed in isolation or as a substitute for financial information prepared and presented under GAAP.
The table below shows the expected growth in adjusted diluted earnings per share for the fourth quarter of fiscal 2020 compared to the fourth quarter of fiscal 2019, using the most direct comparable measure calculated under GAAP.
|
Percentage growth in Diluted earnings per |
||
|
GAAP results |
Low-single-digit numbers |
|
|
SPIEGEL integration and acquisition costs after taxes |
2 to 3% |
|
|
Adjusted results (non-GAAP) |
Mid-single digits |
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CONTACT: Investors:
lululemon athletica inc.
Howard Tubin
1-604-732-6124
or
ICR, Inc.
Joseph Teklits / Caitlin Churchill
1-203-682-8200Media:
lululemon athletica inc.
Erin Hankinson
1-604-732-6124
or
Brunswick Group
Eleanor French
1-415-671-7676
KEYWORD: UNITED STATES NORTH AMERICA CANADA
KEYWORD OF INDUSTRY: SPORTS OTHER RETAIL GENERAL SPORT LUXURY SPECIALTY CONSUMERS OTHER SPORTS FASHION TEENS RETAIL OTHER CONSUMERS WOMEN RUN
SOURCE: lululemon athletica inc.
Copyright Business Wire 2021.
PUB: 01/11/2021 06:30 AM / DISC: 01/11/2021 06:30 AM
http://www.businesswire.com/news/home/20210111005344/de
Copyright Business Wire 2021.