lululemon achieves
$2 billion
revenue milestone
VANCOUVER, British Columbia
--(BUSINESS WIRE)--
lululemon athletica
inc. (NASDAQ:LULU) today announced financial results
for the fourth quarter and fiscal year ended
January 31, 2016
.
Laurent Potdevin
, lululemon's CEO, stated: "I'm very pleased with our
strong finish to the year with positive momentum across all channels.
Our Q4 results are a reflection of our ability to deliver a truly unique
experience to our guests, led, as always, by our outstanding store
educators."
Mr. Potdevin
continued: "In 2015, we made bold moves across the
organization, elevating design and innovation and developing our
infrastructure to position us for the future. As I look forward to 2016
and beyond, I am excited and confident that we have the right team in
place to execute on our long term strategies."
For the fourth quarter ended
January 31, 2016
:
-
Net revenue for the quarter increased 17% to
$704.3 million
from
$602.5 million
in the fourth quarter of fiscal 2014.
-
Total comparable sales, which includes comparable store sales and
direct to consumer, increased by 11% for the fourth quarter on a
constant dollar basis.
-
Comparable store sales for the fourth quarter increased by 5% on a
constant dollar basis and direct to consumer net revenue increased 33%
on a constant dollar basis.
-
Direct to consumer net revenue increased 28% to
$146.3 million
, or
20.8% of total Company net revenue, in the fourth quarter of fiscal
2015, an increase from 19.0% of total Company net revenue in the
fourth quarter of fiscal 2014.
-
Gross profit for the quarter increased by 14% to
$354.5 million
, and
as a percentage of net revenue gross profit was 50.3% for the quarter
compared to 51.5% in the fourth quarter of fiscal 2014.
-
Income from operations for the quarter increased by 6% to
$166.3
million
, and as a percentage of net revenue was 23.6% compared to
26.1% of net revenue in the fourth quarter of fiscal 2014.
-
Income tax expense for the fourth quarter of fiscal 2015 was
$49.8
million
compared to
$48.1 million
in the fourth quarter of fiscal
2014. The effective tax rate for the quarter was 29.8% compared to
30.3% in the fourth quarter of fiscal 2014.
-
Diluted earnings per share for the fourth quarter of fiscal 2015 were
$0.85
compared to
$0.78
in the fourth quarter of fiscal 2014.
-
During the fourth quarter of fiscal 2015, the Company repurchased 2.1
million shares of the Company's common stock at an average cost of
$49.52
per share.
For the fiscal year ended
January 31, 2016
:
-
Net revenue for the fiscal year increased 15% to
$2.1 billion
from
$1.8 billion
in fiscal 2014.
-
Total comparable sales increased by 10% for fiscal 2015 on a constant
dollar basis.
-
Comparable store sales increased 4% on a constant dollar basis for
fiscal 2015 and direct to consumer net revenue increased 30% on a
constant dollar basis. Company-operated stores which have been open
for at least one year averaged sales of
$1,541
per square foot.
-
Direct to consumer net revenue increased 25% to
$401.5 million
, or
19.5% of total Company net revenue in fiscal 2015, an increase from
17.9% of total Company net revenue in fiscal 2014.
-
Gross profit for fiscal 2015 increased by 9% to
$997.2 million
, from
$914.2 million
in fiscal 2014, and as a percentage of net revenue was
48.4% compared to 50.9% in fiscal 2014.
-
Income from operations for fiscal 2015 decreased by 2% to
$369.1
million
, from
$376.0 million
in fiscal 2014. As a percentage of net
revenue, income from operations decreased to 17.9% compared to 20.9%
of net revenue in fiscal 2014.
-
Income tax expense for fiscal 2015 was
$102.4 million
, which includes
a net income tax recovery of
$7.4 million
related to the Company's
transfer pricing arrangements and estimated taxes associated with the
repatriation of foreign earnings. The effective tax rate was 27.8% for
fiscal 2015 compared to 37.6% for fiscal 2014. The effective tax rate
excluding certain tax and related interest adjustments would have been
29.5% for fiscal 2015 compared to 28.8% for fiscal 2014.
-
Diluted earnings per share for fiscal 2015 were
$1.89
compared to
$1.66
in fiscal 2014. Excluding the above tax and related interest
adjustments, diluted earnings per share were
$1.86
for fiscal 2015
compared to
$1.89
in fiscal 2014.
-
During fiscal 2015, the Company repurchased 5.0 million shares of the
Company's common stock at an average cost of
$55.27
per share.
The Company ended fiscal 2015 with
$501.5 million
in cash and cash
equivalents compared to
$664.5 million
at the end of fiscal 2014.
Inventory at the end of fiscal 2015 was
$284.0 million
compared to
$208.1 million
at the end of fiscal 2014. The Company ended the year
with 363 stores.
Updated Outlook
For the first quarter of fiscal 2016, we expect net revenue to be in the
range of
$483 million
to
$488 million
based on a total comparable sales
increase in the mid-single digits on a constant dollar basis. Diluted
earnings per share are expected to be in the range of
$0.28
to
$0.30
for
the quarter. This guidance assumes 138.0 million diluted
weighted-average shares outstanding and a 30.2% tax rate. The guidance
does not reflect potential future repurchases of the Company's shares.
For the full fiscal 2016, we expect net revenue to be in the range of
$2.285 billion
to
$2.335 billion
based on a total comparable sales
increase in the mid-single digits on a constant dollar basis. Diluted
earnings per share are expected to be in the range of
$2.05
to
$2.15
for
the full year. This guidance assumes 138.0 million diluted
weighted-average shares outstanding and a 30.2% tax rate. The guidance
does not reflect potential future repurchases of the Company's shares.
Conference Call Information
A conference call to discuss fiscal 2015 results is scheduled for today,
March 30, 2016
, at
9:00 a.m. Eastern time
. Those interested in
participating in the call are invited to dial 1-877-303-3203
approximately 10 minutes prior to the start of the call. The conference
call will also be webcast live at www.lululemon.com.
The webcast will be accessible on our website for approximately 30 days
after the call.
About
lululemon athletica
inc.
lululemon athletica
inc. (NASDAQ:LULU) is a yoga-inspired athletic
apparel company with products that create transformational experiences
for people to live happy, healthy, fun lives. 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 Measures
Net revenue changes in constant dollars, total comparable sales in
constant dollars, comparable store sales in constant dollars, changes in
direct to consumer net revenue in constant dollars, the effective tax
rate excluding certain tax and related interest adjustments, and diluted
earnings per share excluding certain tax adjustments are not
United
States
generally accepted accounting principle ("GAAP") performance
measures.
We provide constant dollar changes in net revenue, total comparable
sales, comparable store sales, and changes in direct to consumer net
revenue because we use these measures to understand the underlying
growth rate of net revenue excluding the impact of changes in foreign
exchange rates, which are not under management's control. We believe
that disclosing these measures on a constant dollar basis is useful to
investors because it enables them to better understand the level of
growth of our business.
We disclose the effective tax rate and diluted earnings per share
excluding certain tax and related interest adjustments because of their
comparability to our historical information as well as our diluted
earnings per share guidance, which we believe is useful to investors.
The presentation of this financial information is not intended to be
considered in isolation or as a substitute for, or superior to, the
financial information prepared and presented in accordance with GAAP.
For more information on these non-GAAP financial measures, please see
the table captioned "Reconciliation of Non-GAAP Financial Measures"
included in the accompanying financial tables, which includes more
detail on the GAAP financial measure that is most directly comparable to
each non-GAAP financial measure, and the related reconciliations between
these financial measures.
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 and our prospects and strategies for
future growth. 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:
our ability to maintain the value and reputation of our brand, including
any negative publicity regarding our products or the production methods
of our suppliers or manufacturers; the acceptability of our products to
our guests, including receiving products that comply with our technical
specifications and quality standards; our reliance on and limited
control over third-party suppliers to provide fabrics for and to produce
our products; an economic downturn or economic uncertainty in our key
markets; our highly competitive market and increasing competition;
increasing product costs and decreasing selling prices; our ability to
anticipate consumer preferences and successfully develop and introduce
new, innovative and updated products; our ability to accurately forecast
customer demand for our products; our ability to safeguard against
security breaches with respect to our information technology systems;
any material disruption of our information systems; our ability to
manage our growth and the increased complexity of our business
effectively; the fluctuating costs of raw materials; our ability to
expand internationally in light of our limited operating experience and
limited brand recognition in new international markets; our ability to
deliver our products to the market and to meet customer expectations if
we have problems with our distribution system; imitation by our
competitors; our ability to protect our intellectual property rights;
changes in tax laws, capital or financing needs in
the United States
, or
our intentions with respect to the reinvestment of foreign earnings; our
ability 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 South and
South East Asia
; our ability to
successfully open new store locations in a timely manner; our ability to
comply with trade and other regulations; the continued service of our
senior management; seasonality; fluctuations in foreign currency
exchange rates; the operations of many of our suppliers are subject to
international and other risks; our ability to source our merchandise
profitably or at all; our exposure to various types of litigation;
actions of activist stockholders; 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, our 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 we undertake no obligation to
publicly update such forward-looking statements to reflect subsequent
events or circumstances, except as may be required by law.
| lululemon athletica inc. |
Condensed Consolidated Statements of Operations |
Unaudited; Expressed in thousands, except per share amounts |
|
|
|
|
|
Thirteen Weeks
Ended January
31, 2016
|
|
|
|
Thirteen Weeks
Ended
February 1
,
2015
|
|
|
|
Fifty-Two
Weeks Ended
January 31
,
2016
|
|
|
|
Fifty-Two
Weeks Ended
February 1
,
2015
|
|
|
|
Net revenue
|
|
|
|
|
$
|
704,276
|
|
|
|
|
$
|
602,491
|
|
|
|
|
$
|
2,060,523
|
|
|
|
|
$
|
1,797,213
|
|
|
|
|
Costs of goods sold
|
|
|
|
|
349,809
|
|
|
|
|
292,450
|
|
|
|
|
1,063,357
|
|
|
|
|
883,033
|
|
|
|
|
Gross profit
|
|
|
|
|
354,467
|
|
|
|
|
310,041
|
|
|
|
|
997,166
|
|
|
|
|
914,180
|
|
|
|
| As a percent of net revenue |
|
|
|
|
50.3 |
% |
|
|
|
51.5 |
% |
|
|
|
48.4 |
% |
|
|
|
50.9 |
% |
|
|
|
Selling, general and administrative expenses
|
|
|
|
|
188,184
|
|
|
|
|
152,853
|
|
|
|
|
628,090
|
|
|
|
|
538,147
|
|
|
|
| As a percent of net revenue |
|
|
|
|
26.7 |
% |
|
|
|
25.4 |
% |
|
|
|
30.5 |
% |
|
|
|
30.0 |
% |
|
|
|
Income from operations
|
|
|
|
|
166,283
|
|
|
|
|
157,188
|
|
|
|
|
369,076
|
|
|
|
|
376,033
|
|
|
|
| As a percent of net revenue |
|
|
|
|
23.6 |
% |
|
|
|
26.1 |
% |
|
|
|
17.9 |
% |
|
|
|
20.9 |
% |
|
|
|
Other income (expense), net
|
|
|
|
|
938
|
|
|
|
|
1,755
|
|
|
|
|
(581
|
)
|
|
|
|
7,102
|
|
|
|
|
Income before income tax expense
|
|
|
|
|
167,221
|
|
|
|
|
158,943
|
|
|
|
|
368,495
|
|
|
|
|
383,135
|
|
|
|
|
Income tax expense
|
|
|
|
|
49,805
|
|
|
|
|
48,090
|
|
|
|
|
102,448
|
|
|
|
|
144,102
|
|
|
|
|
Net income
|
|
|
|
|
$
|
117,416
|
|
|
|
|
$
|
110,853
|
|
|
|
|
$
|
266,047
|
|
|
|
|
$
|
239,033
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per share
|
|
|
|
|
$
|
0.85
|
|
|
|
|
$
|
0.78
|
|
|
|
|
$
|
1.90
|
|
|
|
|
$
|
1.66
|
|
|
|
|
Diluted earnings per share
|
|
|
|
|
$
|
0.85
|
|
|
|
|
$
|
0.78
|
|
|
|
|
$
|
1.89
|
|
|
|
|
$
|
1.66
|
|
|
|
|
Basic weighted-average shares outstanding
|
|
|
|
|
138,076
|
|
|
|
|
141,999
|
|
|
|
|
140,365
|
|
|
|
|
143,935
|
|
|
|
|
Diluted weighted-average shares outstanding
|
|
|
|
|
138,240
|
|
|
|
|
142,346
|
|
|
|
|
140,610
|
|
|
|
|
144,298
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| lululemon athletica inc. |
Condensed Consolidated Balance Sheets |
Unaudited; Expressed in thousands |
|
|
|
|
|
|
|
|
January 31
,
2016
|
|
|
|
February 1
,
2015
|
|
|
| ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
|
|
$
|
501,482
|
|
|
|
|
$
|
664,479
|
|
|
|
Inventories
|
|
|
|
|
284,009
|
|
|
|
|
208,116
|
|
|
|
Prepaid and receivable income taxes
|
|
|
|
|
91,453
|
|
|
|
|
40,547
|
|
|
|
Other current assets
|
|
|
|
|
40,095
|
|
|
|
|
37,870
|
|
|
|
Total current assets
|
|
|
|
|
917,039
|
|
|
|
|
951,012
|
|
|
|
Property and equipment, net
|
|
|
|
|
349,605
|
|
|
|
|
296,008
|
|
|
|
Goodwill
and intangible assets, net
|
|
|
|
|
24,777
|
|
|
|
|
26,163
|
|
|
|
Deferred income taxes and other non-current assets
|
|
|
|
|
22,656
|
|
|
|
|
23,030
|
|
|
|
Total assets
|
|
|
|
|
$
|
1,314,077
|
|
|
|
|
$
|
1,296,213
|
|
|
| LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
|
|
|
$
|
10,381
|
|
|
|
|
$
|
9,339
|
|
|
|
Accrued inventory liabilities
|
|
|
|
|
25,451
|
|
|
|
|
22,296
|
|
|
|
Accrued compensation and related expenses
|
|
|
|
|
43,524
|
|
|
|
|
29,932
|
|
|
|
Income taxes payable
|
|
|
|
|
37,736
|
|
|
|
|
20,073
|
|
|
|
Unredeemed gift card liability
|
|
|
|
|
57,736
|
|
|
|
|
46,252
|
|
|
|
Other accrued liabilities
|
|
|
|
|
50,676
|
|
|
|
|
31,989
|
|
|
|
Total current liabilities
|
|
|
|
|
225,504
|
|
|
|
|
159,881
|
|
|
|
Deferred income tax liability
|
|
|
|
|
10,759
|
|
|
|
|
3,633
|
|
|
|
Other non-current liabilities
|
|
|
|
|
50,332
|
|
|
|
|
43,131
|
|
|
|
Stockholders' equity
|
|
|
|
|
1,027,482
|
|
|
|
|
1,089,568
|
|
|
|
Total liabilities and stockholders' equity
|
|
|
|
|
$
|
1,314,077
|
|
|
|
|
$
|
1,296,213
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| lululemon athletica inc. |
Condensed Consolidated Statements of Cash Flows |
Unaudited; Expressed in thousands |
|
|
|
|
|
|
|
|
Fifty-Two
Weeks Ended
January 31
,
2016
|
|
|
|
Fifty-Two
Weeks Ended
February 1
,
2015
|
|
|
|
Cash flows from operating activities
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
|
|
$
|
266,047
|
|
|
|
|
$
|
239,033
|
|
|
|
|
Items not affecting cash
|
|
|
|
|
92,436
|
|
|
|
|
66,839
|
|
|
|
|
Changes in operating assets and liabilities
|
|
|
|
|
(59,743
|
)
|
|
|
|
8,577
|
|
|
|
|
Net cash provided by operating activities
|
|
|
|
|
298,740
|
|
|
|
|
314,449
|
|
|
|
|
Net cash used in investing activities
|
|
|
|
|
(143,487
|
)
|
|
|
|
(119,733
|
)
|
|
|
|
Net cash used in financing activities
|
|
|
|
|
(273,693
|
)
|
|
|
|
(149,077
|
)
|
|
|
|
Effect of exchange rate changes on cash
|
|
|
|
|
(44,557
|
)
|
|
|
|
(79,809
|
)
|
|
|
|
Decrease in cash and cash equivalents
|
|
|
|
|
(162,997
|
)
|
|
|
|
(34,170
|
)
|
|
|
|
Cash and cash equivalents, beginning of year
|
|
|
|
|
$
|
664,479
|
|
|
|
|
$
|
698,649
|
|
|
|
|
Cash and cash equivalents, end of year
|
|
|
|
|
$
|
501,482
|
|
|
|
|
$
|
664,479
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| lululemon athletica inc. |
Reconciliation of Non-GAAP Financial Measures |
Unaudited |
Constant dollar changes in net revenue |
|
|
|
|
|
|
|
|
Thirteen Weeks Ended January
31, 2016
|
|
|
|
Fifty-Two Weeks Ended January
31, 2016
|
|
|
|
|
|
|
|
(In thousands) |
|
(Percentage) |
|
|
|
(In thousands) |
|
(Percentage) |
|
|
|
Net revenue increase
|
|
|
|
|
$
|
101,786
|
|
|
17
|
%
|
|
|
|
$
|
263,310
|
|
|
15
|
%
|
|
|
|
Adjustments due to foreign exchange rate changes
|
|
|
|
|
28,343
|
|
|
5
|
|
|
|
|
88,877
|
|
|
5
|
|
|
|
|
Net revenue increase in constant dollars
|
|
|
|
|
$
|
130,129
|
|
|
22
|
%
|
|
|
|
$
|
352,187
|
|
|
20
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Constant dollar total comparable sales |
|
|
|
|
|
Thirteen Weeks
Ended January
31, 2016
|
|
|
|
Thirteen Weeks
Ended
February 1
,
2015
|
|
|
|
Fifty-Two
Weeks Ended
January 31
,
2016
|
|
|
|
Fifty-Two
Weeks Ended
February 1
,
2015
|
|
|
|
Total comparable sales1
|
|
|
|
|
7
|
%
|
|
|
|
6
|
%
|
|
|
|
5
|
%
|
|
|
|
1
|
%
|
|
|
|
Adjustments due to foreign exchange rate changes
|
|
|
|
|
4
|
|
|
|
|
2
|
|
|
|
|
5
|
|
|
|
|
2
|
|
|
|
|
Total comparable sales in constant dollars1
|
|
|
|
|
11
|
%
|
|
|
|
8
|
%
|
|
|
|
10
|
%
|
|
|
|
3
|
%
|
|
|
|
__________
|
| 1Total comparable sales includes comparable store sales
and direct to consumer sales. Comparable store sales reflects net
revenue at company-operated stores that have been open for at least
12 months.
|
|
|
| Constant dollar comparable store sales |
|
|
|
|
|
Thirteen Weeks
Ended January
31, 2016
|
|
|
|
Thirteen Weeks
Ended
February 1
,
2015
|
|
|
|
Fifty-Two
Weeks Ended
January 31
,
2016
|
|
|
|
Fifty-Two
Weeks Ended
February 1
,
2015
|
|
|
|
Comparable store sales1
|
|
|
|
|
1
|
%
|
|
|
|
2
|
%
|
|
|
|
—
|
%
|
|
|
|
(3
|
)%
|
|
|
|
Adjustments due to foreign exchange rate changes
|
|
|
|
|
4
|
|
|
|
|
3
|
|
|
|
|
4
|
|
|
|
|
2
|
|
|
|
|
Comparable store sales in constant dollars1
|
|
|
|
|
5
|
%
|
|
|
|
5
|
%
|
|
|
|
4
|
%
|
|
|
|
(1
|
)%
|
|
|
|
__________
|
| 1Comparable store sales reflects net revenue at
company-operated stores that have been open for at least 12 months.
|
|
|
| Constant dollar changes in direct to consumer net revenue |
|
|
|
|
|
Thirteen Weeks
Ended January
31, 2016
|
|
|
|
Thirteen Weeks
Ended
February 1
,
2015
|
|
|
|
Fifty-Two
Weeks Ended
January 31
,
2016
|
|
|
|
Fifty-Two
Weeks Ended
February 1
,
2015
|
|
|
|
Increase in direct to consumer net revenue
|
|
|
|
|
28
|
%
|
|
|
|
17
|
%
|
|
|
|
25
|
%
|
|
|
|
22
|
%
|
|
|
|
Adjustments due to foreign exchange rate changes
|
|
|
|
|
5
|
|
|
|
|
3
|
|
|
|
|
5
|
|
|
|
|
2
|
|
|
|
|
Increase in direct to consumer net revenue in constant dollars
|
|
|
|
|
33
|
%
|
|
|
|
20
|
%
|
|
|
|
30
|
%
|
|
|
|
24
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Effective tax rate, excluding tax and related interest adjustments |
|
|
|
|
|
Thirteen Weeks
Ended January
31, 2016
|
|
|
|
Thirteen Weeks
Ended
February 1
,
2015
|
|
|
|
Fifty-Two
Weeks Ended
January 31
,
2016
|
|
|
|
Fifty-Two
Weeks Ended
February 1
,
2015
|
|
|
|
Effective tax rate
|
|
|
|
|
29.8
|
%
|
|
|
|
30.3
|
%
|
|
|
|
27.8
|
%
|
|
|
|
37.6
|
%
|
|
|
|
Tax and related interest adjustments1
|
|
|
|
|
(0.2
|
)
|
|
|
|
—
|
|
|
|
|
1.7
|
|
|
|
|
(8.8
|
)
|
|
|
|
Effective tax rate, excluding tax and related interest adjustments
|
|
|
|
|
29.6
|
%
|
|
|
|
30.3
|
%
|
|
|
|
29.5
|
%
|
|
|
|
28.8
|
%
|
|
|
|
__________
|
|
1These adjustments relate to the Company's transfer
pricing arrangements and taxes associated with the repatriation of
foreign earnings. Please refer to Note 15 to the audited
consolidated financial statements included in Item 8 of Part II of
the Company's Report on Form 10-K to be filed with the
SEC
on or
about
March 30, 2016
for an explanation as to the nature of these
items.
|
|
|
| Diluted earnings per share, excluding tax and related interest adjustments |
|
|
|
|
|
Thirteen Weeks
Ended
January 31
,
2016
|
|
|
|
Thirteen Weeks
Ended
February 1
,
2015
|
|
|
|
Fifty-Two
Weeks Ended
January 31
,
2016
|
|
|
|
Fifty-Two
Weeks Ended
February 1
,
2015
|
|
|
|
Diluted earnings per share
|
|
|
|
|
$
|
0.85
|
|
|
|
|
$
|
0.78
|
|
|
|
|
$
|
1.89
|
|
|
|
|
$
|
1.66
|
|
|
|
Tax and related interest adjustments1
|
|
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
(0.03
|
)
|
|
|
|
0.23
|
|
|
|
Diluted earnings per share, excluding tax and related interest
adjustments
|
|
|
|
|
$
|
0.85
|
|
|
|
|
$
|
0.78
|
|
|
|
|
$
|
1.86
|
|
|
|
|
$
|
1.89
|
|
|
|
__________
|
|
1These adjustments relate to the Company's transfer
pricing arrangements and taxes associated with the repatriation of
foreign earnings. Please refer to Note 15 to the audited
consolidated financial statements included in Item 8 of Part II of
the Company's Report on Form 10-K to be filed with the
SEC
on or
about
March 30, 2016
for an explanation as to the nature of these
items.
|
|
|
| lululemon athletica inc. |
Store Count and Square Footage(1) |
Fifty-Two Weeks Ended January 31, 2016 |
Square Footage Expressed in Thousands |
|
|
|
|
|
|
|
|
Number of
Stores Open at
the
Beginning
of
the Quarter
|
|
|
|
Number of
Stores Opened
During the
Quarter2
|
|
|
|
Number of
Stores Closed
During the
Quarter
|
|
|
|
Number of
Stores Open
at the End of
the
Quarter
|
|
|
|
1st Quarter
|
|
|
|
|
302
|
|
|
|
|
14
|
|
|
|
|
—
|
|
|
|
|
316
|
|
|
|
2nd Quarter
|
|
|
|
|
316
|
|
|
|
|
20
|
|
|
|
|
—
|
|
|
|
|
336
|
|
|
|
3rd Quarter
|
|
|
|
|
336
|
|
|
|
|
18
|
|
|
|
|
—
|
|
|
|
|
354
|
|
|
|
4th Quarter
|
|
|
|
|
354
|
|
|
|
|
10
|
|
|
|
|
1
|
|
|
|
|
363
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Gross
Square Feet at
the Beginning
of
the Quarter
|
|
|
|
Gross Square
Feet Added
During the
Quarter2,3
|
|
|
|
Gross Square
Feet Lost
During the
Quarter3
|
|
|
|
Total Gross
Square Feet at
the End of
the
Quarter
|
|
|
|
1st Quarter
|
|
|
|
|
894
|
|
|
|
|
37
|
|
|
|
|
—
|
|
|
|
|
931
|
|
|
|
2nd Quarter
|
|
|
|
|
931
|
|
|
|
|
54
|
|
|
|
|
—
|
|
|
|
|
985
|
|
|
|
3rd Quarter
|
|
|
|
|
985
|
|
|
|
|
51
|
|
|
|
|
—
|
|
|
|
|
1,036
|
|
|
|
4th Quarter
|
|
|
|
|
1,036
|
|
|
|
|
38
|
|
|
|
|
3
|
|
|
|
|
1,071
|
|
|
|
__________
|
|
1Store count and square footage summary includes
company-operated stores which are branded
lululemon athletica
and
ivivva athletica.
|
|
2Number of stores opened during the quarter that are
branded
lululemon athletica
and ivivva athletica.
|
| 3Gross square feet added/lost during the quarter includes
net square foot additions for company-operated stores which have
been renovated or relocated in the quarter.
|
|
|
View source version on businesswire.com: http://www.businesswire.com/news/home/20160330005371/en/
Investor Contact:
ICR, Inc.
Joseph Teklits
/Caitlin
Morahan, 203-682-8200
or
Media Contact:
ICR, Inc.
Alecia
Pulman
, 203-682-8224
Source:
lululemon athletica
inc.