VANCOUVER, Canada--(BUSINESS WIRE)--
lululemon athletica inc. (NASDAQ: LULU; TSX: LLL) today announced
that Michael Tattersfield has resigned as Executive Vice President,
Retail Logistics and Sourcing due to personal and family reasons.
Mr. Tattersfield served as Chief Operating Officer of lululemon
since joining the company in October 2006. In January 2008, due to the
rapid growth of the company, the role was split with Mr. Tattersfield
focusing on the leadership of the logistics and supply chain team.
Christine Day, a 20 year veteran of Starbucks, was hired to bring her
extensive expertise in high growth retail operations to lead the areas
of Canadian, US and International store operations, wholesale and
phone sales, real estate development, and community relations.
Effective immediately, sourcing, production and logistics will
report directly to Robert Meers, CEO of lululemon athletica. Christine
Day will continue to serve in her position as Executive Vice President
Retail Operations.
Mr. Meers, CEO of lululemon commented, "Mike Tattersfield was
instrumental in leading lululemon through the impressive growth of 27
stores throughout 2007 and playing a key role in identifying and
hiring many of our senior management team. We are very appreciative of
Mike's contributions and wish him well in his future endeavors." Mr.
Meers continued, "We are fortunate to have a strong team in place and
fully operational. With the addition of Christine Day, who as head of
retail operations has already made significant contributions to the
company, along with our skilled executives in sourcing, logistics and
production in place, I feel confident that there will be no disruption
to our business and that we will continue to seamlessly execute on our
growth plans."
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.comhttp://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 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.govhttp://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.