VANCOUVER, British Columbia--(BUSINESS WIRE)--
lululemon athletica inc. (NASDAQ: LULU; TSX: LLL) announced today
the appointment of Christine Day as President, Chief Operating Officer
and CEO designate. Robert Meers will be retiring from his position as
CEO on June 30, 2008, at which time Ms. Day will assume this role.
Ms. Day joined lululemon athletica in January 2008 as Executive
Vice President of Retail Operations where she oversees all of
lululemon's retail operations in North America and on an international
basis, as well as the Company's Community Relations, Real Estate
Development, the Guest Education Center and Wholesale businesses. She
brings to lululemon extensive consumer and retail industry experience,
having spent 20 years with Starbucks Corporation, most recently as
President of their Asia Pacific Group. During her tenure at Starbucks,
Ms. Day held numerous senior management positions including
Co-President of Starbucks International, Senior Vice President of
North American Administration, and Vice President of Sales and
Operations for Business Alliances.
"Christine is a seasoned retail industry executive who has a
proven track record in high growth retail and who truly understands
our unique brand and guest experience," said Bob Meers, CEO of
lululemon. "I have the utmost confidence that lululemon will thrive
under Christine's leadership as it enters its next phase of growth."
Ms. Day said, "lululemon has an extraordinary brand with a loyal
and growing following around the globe who have embraced our yoga
inspired apparel and unique store experience. I am excited to be
taking on this important role in shaping lululemon's future. Together,
and building on Bob's accomplishments, we will create new
opportunities for growth while carefully maintaining the values and
culture for which this Company is so well known."
Mr. Meers will retire from his position as CEO of lululemon on
June 30, 2008. He will serve as an advisor until the end of the
Company's 2008 fiscal year. Mr. Meers joined lululemon in December
2005 and was instrumental in establishing the strategic platform for
the lululemon brand and its growth throughout North America and
internationally. He assembled the senior management team and, under
his leadership, led the Company through its IPO in July 2007.
Chip Wilson, Chairman of the Board, founder and Chief Designer of
Product, said, "Bob Meers was tremendous in taking the original
lululemon vision and creating a company with the infrastructure and
expertise to grow in the United States. On behalf of everyone at
lululemon, I would like to thank Bob for his outstanding leadership."
Mr. Wilson continued, "I am excited to have Christine lead our
company. Through her extensive experience at Starbucks, she knows how
to take a culturally-rich company through rapid growth to reach its
full potential. I look forward to working with Christine as we enter
into this new, exciting era for lululemon."
In a separate press release today, lululemon also announced fiscal
2007 record earnings and profits.
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 help
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, http://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, both in North America and
internationally, 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 identify 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 or in other markets,
or expand into new markets; the possibility that we may not be able to
finance our growth and maintain sufficient levels of cash flow;
increasing competition, which may cause us to reduce the prices of our
products or to increase significantly our marketing efforts 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 continually innovate and
provide our consumers with improved products; and other risk factors
detailed in our filings with the Securities and Exchange Commission,
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 and other filings we
make 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.