lululemon athletica inc. Updates Revenue and Earnings Expectations for the Fourth Quarter Ahead of the ICR Conference
January 10 2022 - 6:30AM
Business Wire
lululemon athletica inc. (NASDAQ:LULU) today announced that, for
the fourth quarter of fiscal 2021, it now expects the company’s net
revenue to be toward the low end of its range of $2.125 billion to
$2.165 billion, and that it expects diluted earnings per share and
adjusted diluted earnings per share to be toward the low end of its
ranges of $3.24 to $3.31 and $3.25 to $3.32, respectively.
Calvin McDonald, Chief Executive Officer, commented: “We are
closing out a strong 2021 in the coming weeks, and we’re pleased
with how lululemon has delivered over the course of the year. We
started the holiday season in a strong position but have since
experienced several consequences of the Omicron variant, including
increased capacity constraints, more limited staff availability,
and reduced operating hours in certain locations. I am proud of how
our teams continue to deliver for our guests, and we are excited
about what the future holds for lululemon.”
Members of the management team will be meeting virtually with
analysts and investors at the ICR Conference on January 10-12,
2022.
Please refer to section below entitled “Non-GAAP Financial
Measures.”
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, creating transformational products and
experiences which enable people to live a life they love. 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.
Forward-Looking Statements:
This press release includes estimates, projections, statements
relating to the Company's business plans, objectives, and expected
operating results 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 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 also include the Company's guidance and outlook
statements. These 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 Company's ability to maintain the value and
reputation of its brand; the current COVID-19 coronavirus pandemic
and related government, private sector, and individual consumer
responsive actions; its highly competitive market and increasing
competition; increasing costs and decreasing selling prices; its
ability to anticipate consumer preferences and successfully develop
and introduce new, innovative and updated products; the
acceptability of its products to guests; its ability to accurately
forecast guest demand for its products; changes in consumer
shopping preferences and shifts in distribution channels; its
ability to expand in light of its limited operating experience and
limited brand recognition in new international markets and new
product categories; its ability to realize the potential benefits
and synergies sought with the acquisition of MIRROR; its ability to
manage its growth and the increased complexity of its business
effectively; its ability to successfully open new store locations
in a timely manner; seasonality; disruptions of its supply chain;
its reliance on and limited control over third-party suppliers to
provide fabrics for and to produce its products; suppliers or
manufacturers not complying with its Vendor Code of Ethics or
applicable laws; its ability to deliver its products to the market
and to meet guest expectations if it has problems with its
distribution system; increasing labor costs and other factors
associated with the production of its products in South Asia and
South East Asia; its ability to safeguard against security breaches
with respect to its information technology systems; its compliance
with privacy and data protection laws; any material disruption of
its information systems; its ability to have technology-based
systems function effectively and grow its e-commerce business
globally; climate change, and related legislative and regulatory
responses; increased scrutiny regarding its environmental, social,
and governance, or sustainability responsibilities; 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 source and sell its
merchandise profitably or at all if new trade restrictions are
imposed or existing trade restrictions become more burdensome;
changes in tax laws or unanticipated tax liabilities; its ability
to comply with trade and other regulations; fluctuations in foreign
currency exchange rates; imitation by its competitors; its ability
to protect its intellectual property rights; conflicting trademarks
and the prevention of sale of certain products; its 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, its 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 the Company
undertakes no obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances, except as
may be required by law.
Non-GAAP Financial Measures
The adjusted earnings per share expectation continues to exclude
certain integration and acquisition-related compensation costs
incurred in connection with the acquisition of MIRROR, and the
related tax effects. The presentation of this financial information
is not intended to be considered in isolation or as a substitute
for the financial information prepared and presented in accordance
with GAAP.
The following table reconciles expected adjusted diluted
earnings per share with the most directly comparable measure
calculated in accordance with GAAP.
Fourth Quarter Fiscal
2021
Expected diluted earnings per share
range
$3.24 to $3.31
MIRROR integration and acquisition-related
costs, net of tax
$0.01
Expected adjusted earnings per share range
(non-GAAP)
$3.25 to $3.32
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220110005310/en/
Investors: lululemon athletica inc. Howard Tubin
1-604-732-6124 or ICR, Inc. Joseph Teklits/Caitlin Churchill
1-203-682-8200
Media: lululemon athletica inc. Erin Hankinson
1-604-732-6124 or Brunswick Group Eleanor French 1-415-671-7676
Lululemon Athletica (NASDAQ:LULU)
Historical Stock Chart
From Jun 2024 to Jul 2024
Lululemon Athletica (NASDAQ:LULU)
Historical Stock Chart
From Jul 2023 to Jul 2024