VANCOUVER, Canada--(BUSINESS WIRE)--
lululemon athletica inc.'s (NASDAQ: LULU; TSX: LLL) Chief
Executive Officer Bob Meers, today issued the following statement:
"We are altering the labels on our VitaSea products in our
Canadian stores, in cooperation with The Competition Bureau of Canada,
to remove references to the therapeutic and performance attributes of
the VitaSea technology. It is important to note that the Bureau takes
no issue with the material content as described on our care and
content labels. Independent testing has confirmed the presence of
vitamins, minerals, and amino acids in the VitaSea fabric. Separately,
in order to ensure complete transparency and accuracy, we are
voluntarily altering the references to the therapeutic and performance
attributes on VitaSea hang tags in all markets globally. In order to
ensure the integrity of our product labelling, we are conducting a
review of the therapeutic attributes described on all product hang
tags. We take pride in our quality, technical apparel and will
continue to deliver innovative fabrics and garments to our guests."
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.
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, 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 filed included in our
Registration Statement on Form S-1 (file no. 333-142477) filed with
the Securities and Exchange Commission and 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.