VANCOUVER--(BUSINESS WIRE)--
lululemon athletica inc. [NASDAQ: LULU; TSX: LLL] today announced that
the Company is raising its guidance for the fourth quarter of fiscal
2011 ending January 29, 2012.
For the fourth quarter of fiscal 2011, the Company now expects diluted
earnings per share to be in the range of $0.47 to $0.49 as compared to
its previous guidance range for diluted earnings per share of $0.40 to
$0.42. The Company's improved guidance reflects stronger than
anticipated net revenue for the quarter.
The Company now expects net revenue to be in the range of $358 million
to $363 million for the fourth quarter of fiscal 2011. This compares to
the Company’s previous guidance of net revenue in the range of
$327 million to $332 million for the quarter, and compares to net
revenue of $245 million for the fourth quarter of fiscal 2010.
Comparable-store sales for the fourth quarter of fiscal 2011 are
expected to reflect a low-to-mid twenties percentage increase on a
constant-dollar basis. This compares to the Company’s previous guidance
of low to mid-teens comparable-store sales for the fourth quarter of
fiscal 2011.
Christine Day, lululemon’s CEO stated: “Our work throughout the year
building our inventory position is driving our success in the fourth
quarter. Guests have responded exceptionally well to the robust
assortment and bright color palette for holiday, and momentum continues
with the new spring product offerings.”
Management will be presenting at the ICR XChange Conference onWednesday, January 11, 2012 in Miami, Florida. See separate release for
webcast information.
About lululemon athletica inc.
lululemon athletica (NASDAQ:LULU; TSX:LLL) is a yoga-inspired athletic
apparel company that creates components for people to live a long,
healthy and fun life. 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, visit www.lululemon.com.
Non-GAAP Financial Measure
Constant-dollar net revenue changes, which exclude the impact of changes
in foreign exchange rates, is not a United States Generally Accepted
Accounting Principle (“GAAP”) performance measure. We provide
constant-dollar net revenue changes because we use the measure to
understand the underlying growth rate of revenue excluding the impact on
a quarter-by-quarter basis of changes in foreign exchange rates, which
are not under management’s direct control. We believe that disclosing
net revenue changes on a constant-dollar basis is useful to investors
because it enables them to better understand the level of growth of our
business.
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,” “outlook,”
“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: an economic
downturn or economic uncertainty in our key markets; increasing product
costs and decreasing selling prices; our inability to anticipate
consumer preferences and successfully develop and introduce new,
innovative and updated products; our inability to accurately forecast
customer demand for our products; our inability to manage our growth and
the increased complexity of our business effectively; the fluctuating
costs of raw materials; our reliance on and limited control over
third-party suppliers to provide fabrics for and to produce our
products; our highly competitive market and increasing competition; an
unforeseen disruption of our information systems; our inability to
deliver our products to the market and to meet customer expectations due
to problems with our distribution system; our inability to cancel store
leases if an existing or new store is not profitable; increasing labor
costs and other factors associated with the production of our products
in China; our inability to successfully open new store locations in a
timely manner; our failure to maintain the value and reputation of our
brand; our failure to comply with trade and other regulations; our
competitors manufacturing and selling products based on our fabrics and
manufacturing technology at lower prices than we can; our failure to
protect our intellectual property rights; and other risk factors
detailed in our Annual Report on Form 10-K for the fiscal year ended
January 30, 2011 and our Quarterly Reports on Form 10-Q for fiscal 2011,
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 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.
ICR, Inc.
Investors:
Joseph
Teklits or Jean Fontana, 203-682-8200
or
Media:
Alecia
Pulman, 203-682-8224
Source: lululemon athletica inc.