Capital expenditures were $80 million for the quarter, compared to $53 million in the second quarter last year. So in terms of Vietnam, we source approximately 30% of our finished goods. A right of erasure: You have the right to request that we delete personal data about you. Direct to In Chicago, beginning in July and running through October, Lululemon is partnering with Urban Juncture Foundation to host a community pop-up on Chicago's Southside in the Boxville marketplace. Due to the 53rd week in fiscal 2018, the below changes in total comparable sales, comparable store sales, and direct to consumer net revenue are calculated on a one week shifted basis such that the 13 weeks ended The next question comes from Michael Binetti with Credit Suisse. At the end of the second quarter, we had 95% of our stores open. lululemon expands its Selfcare product line with Super Fine Face Mist made to hydrate and protect post-workout skin. We currently have approximately 95% of our stores opened globally, we're engaging with guests inside our stores and through our community activations, and our e-commerce business remains strong. Thank you and good afternoon. How are you doing? [Operator instructions] The first question comes from Adrienne Yih with Barclays. Berkshire investors would do better if the firm was broken up. It's Yeah, no. Investors. Mary Motch - Educator - lululemon | LinkedIn Actual results may differ materially from those contained in or implied by these forward-looking statements due to risks and uncertainties associated with our business, including those we have disclosed in our most recent filings with the SEC, including our annual report on Form 10-K, and our quarterly reports on Form 10-Q. This includes approximately 35 to 40 stores in our international markets and represents a square footage percentage increase in the low-teens. A conference call to discuss fiscal 2019 results is scheduled for today, Ike Boruchow -- Wells Fargo Securities -- Analyst. We have our eyes on the long game with MIRROR and the community we're building. And just a few weeks ago, we announced our multi-year collaboration with Genomatica, a recognized leader in sustainable materials to create a lower impact plant-based nylon. Our popular Align franchise offers are the most distraction-free and weightless sensation, and we've expanded to include tops and bras in addition to our popular tight. We now have MIRROR shop-in-shops in a 150 Lululemon store, and our plans call for 200 shops in time for the holiday season. lululemon will use the information you provide to deliver you relevant information about our products and services, including offerings based on your preferences and purchase history. . Lululemon, known for its 128 yoga leggings, is facing mockery on social media for promoting an event about "decolonising gender" and how to "resist capitalism". The strength of our brand and strong financial position will help us manage through the day-to-day, while continuing to effectively plan for and invest in our future." Markets, North America international, and channels online and stores. Lululemon | Company Overview & News - Forbes Learn More. We are working with the right partners to help in the manufacturing and the creation, and therefore, the commercialization of these goods. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Constant dollar changes in net revenue, total comparable sales, comparable store sales, and direct to consumer net revenue, and the adjusted financial results are non-GAAP financial measures. You understand that any messages or information you send to our websites may be read or intercepted by others. We provide constant dollar changes in net revenue, total comparable sales, comparable store sales, and 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. Specialty Retail. A right to data portability: In certain circumstances, you have the right to request that we provide the personal data which you provided to us in a structured, commonly used and machine-readable format, and you have the right to transmit such data to another controller without hindrance from lululemon. : The Company ended fiscal 2019 with Thank you, Howard, and I'd like to welcome everyone to our second-quarter earnings call. On June 29, 2020, Lululemon announced its intention not to be left behind. A live webcast of the conference call will be available online at: http://investor.lululemon.com/events.cfm. We continue to be pleased with the performance of MIRROR, and let me highlight several initiatives we have on track for this year. Guests took three back-to-back classes, and Lululemon matched all ticket sales, which were then donated to the Black Women's Health Imperative. As I mentioned, we anticipate it will be with us for the balance of the year, and we'll update on 2022. It operates in two segments, Company-Operated Stores and Direct to Consumer. Please go ahead. Some examples include digital sweat classes and community events were top drivers of overall program engagement. Search Thousands of Presentations by World Leading Companies, Join our mailing list to stay in the loop with updates and newest feature releases. February 2, 2020 Feb. 18, 2021 | 7:00 AM US/Central. In Q3, we expect SG&A deleverage of approximately 300 to 350 basis points relative to 2019. The event was featured in an . And when you're going to air freight products, is that airfreight for upside or is that airfreight to potentially meet holiday demand? Great. Thanks. Howard Tubin And I have a quick follow-up for Meghan. lululemon athletica Eleanor French The membership test gave us access to thousands of guests that were behaving in this way in MIRROR, at the end of this year is going to give us access to hundreds of thousands. are compared to the 13 weeks ended These locations currently remain closed. It also provides fitness-related accessories and footwear. You told us you're on track to quadruple of revenues, but our -- maybe you could just give us some thoughts on the path to the profitability of the international business to go with that comment, just to bring us up-to-date. Switching now to e-commerce. We continue to expect gross margin for the year to expand between 150 to 200 basis points compared to the modest increase we saw in 2020. Handled customer-service . 12. or Vancouver yoga-togs merchant Lululemon . Drivers of the deleverage continue to include our investment in MIRROR brand-building. Lululemon Sees Q4 Earnings At 'High End' of Expected Range - TheStreet And it has just continued to gain momentum through each quarter and then with Q2 being sort of back at that great growth where we're going to double our business at the end of this year, two years early from when we started at the beginning of 2019. Jul 2021 - Present1 year 9 months. We may also wish to further use your personal data in promotional or marketing materials. lululemon Names Meghan Frank Chief Financial Officer, lululemon Appoints Celeste Burgoyne to President, Americas and Global Guest Innovation, lululemon Announces Leadership Appointments of EVP, International and VP, Global Head of IDEA, lululemons Latest Jackets and Outerwear Collection Stretches Beyond Expectations, Super Fine Face Mist is the Newest Addition to lululemons Selfcare Category, lululemon Partners with the Canadian Journalism Foundation and CBC/Radio-Canada to Create the Black Journalism Fellowship, Ice-Dyed Nulux: lululemons Newest One-of-a-Kind Run Collection, lululemon Partners with When We All Vote and Time to Vote, Keep Moving in Technical Loungewear this Fall, lululemon Expands On The Move Category with New Styles and Fabrics, lululemon Introduces New Light Support Bras This Summer, lululemon Acquires Home Fitness Innovator MIRROR, lululemon Commits to Inclusion, Diversity, Equity, and Action, lululemon Announces Global Gender Pay Equity Stats and Commitments, lululemon Announces Mental Wellbeing Commitments at the 2020 MAKERS Conference, lululemon Partners with Robert Geller on Second Collection, A Moment to Reflect, lululemon Appoints Nikki Neuburger Chief Brand Officer, Sorry, we don't ship to your country/region, lululemon athletica 1818 Cornwall Ave, Vancouver BC V6J 1C7, California Privacy Rights (Last Updated: 1/23/23). Announces Second Quarter Fiscal 2022 Results, lululemon athletica inc. We continue to expect to open 45 to 55 net new company-operated stores in 2021. Employee Leadership Offerings: Be the place where people come to develop and grow as leaders for the world by 2023. For example, if you decide to participate in certain interactive areas or features of our websites, such as creating a public profile and posting your goals, you consent to the disclosure of this information to other users of our websites. We prioritized our people and kept our teams intact by offering pay production, sick pay, and other key people investments. Total comparable sales increased 17%, or increased 18% on a constant dollar basis. Comparable And finally, I am pleased to share that our adjusted earnings per share for the quarter were $1.65 versus $0.96 in 2019, which is significantly ahead of our expectations. Before I open it up to questions, I wanted to take a look back on these results and the previous quarters and speak for a moment about the unique business model that drives their success, enables our strong performance, and allows us to navigate COVID-19 and the current headwinds impacting our supply chain. For example, this Privacy Policy does not apply to consumers located outside the EEA and Switzerland. Our approach continues to be grounded and prudently managing our expenses while also continuing to strategically invest in our long-term growth opportunities. lululemon athletica inc. Lululemon (LULU) Q2 2021 earnings beat - cnbc.com U.S. Please review these policies before you disclose any personal data when visiting such third-party websites. "Our most loyal [customers] are incredibly loyal.". The next question comes from Lorraine Hutchinson with Bank of America. March 26, 2020 Subsequent to Subscribe New All new decks. We want to be by 2030, 100% of our products made with sustainable materials, and that's what these partnerships are gearing and working toward for us. For us to repurchase and cancel shares between January 17, 2022, and January 16, 2023, NCIB is in place. I think everybody is saying I think it's now 150 to 200 basis points of negative impact for the year. , I wanted to focus on the men's business for a minute. endstream endobj 1933 0 obj <>stream Lululemon finished fiscal 2019 with $3.98 billion in revenue. We also transfer personal data to service providers that process personal data for us in the United States, Canada and other locations (as an example, Amazon Web Services process information for us in various data center locations, including those listed at HTTPS://AWS.AMAZON.COM/ABOUT-AWS/GLOBAL-INFRASTRUCTURE/). I guess, I imagine it was a challenge to get reads on the tests given everything that's been going on in the last 18 months, but I mean do you still see an opportunity to have a loyalty program that exists outside of the MIRROR platform or what form might that take? A transcript of the meeting will be available here. Our Service Providers. Our EPS guidance continues to assume modest dilution from MIRROR in the 3% to 5% range . Oct 2021 - Present1 year 6 months. Bumble Inc. | Financials - SEC Filings For more information about our privacy practices in another jurisdiction, please refer to the privacy policy available in our stores, or posted on our website, for that jurisdiction. The below changes in net revenue show the net change for the fourth quarter of fiscal 2019 compared to the fourth quarter of fiscal 2018. The press release and accompanying quarterly report on Form 10-Q are available under the Investors section of our website at www. Comparable store sales reflects net revenue from company-operated stores that have been open for at least 12 full fiscal months, or open for at least 12 full fiscal months after being significantly expanded. Our stores continue to rebound, generating a two-year revenue CAGR of 9%, which is ahead of our expectations. The two-year CAGR continued to accelerate. Learn More, Lululemon Athletica(LULU 1.66%)Q22021 Earnings CallSep 08, 2021, 4:30 p.m. Please refer to Note 15 to the audited consolidated financial statements included in Item 8 of Part II of our Report on Form 10-K to be filed with the are compared to the 52 weeks ended June 24, 2020 . And you've heard me say this before, this brand is early innings across products with activities, where we focus on run train yoga in OTM, categories within those activities, and both our men's and women's business. We need to collect personal data, such as your name and e-mail address, in order to process your Promotion. The direct-to-consumer channel, including e-commerce and mobile sales, made up 54% of total revenue. , Before I hand it over to Meghan, I'd like to speak for a minute on labor and what we're seeing regarding store and call center staffing. I also want to give some context around these numbers and the quarter-after-the quarter performance we've been delivering. Investors - lululemon Water and Waste: Reduce freshwater use intensity by 50 percent to manufacture our products, and reduce single-use plastic packaging by 50 percent by 2025. Results are great. CEO Elon Musk took the stage to share his "Master Plan 3," and to discuss how Tesla plans to . McDonald sees Lululemon's market opportunity stretching way beyond the sports apparel market, which is big enough on its own at $115 billion, according to Euromonitor. It also excludes the impact of any future share repurchases. And when I look at the growth, it is balanced across all the categories, which is very healthy. Login. 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; the acceptability of our products to our guests; the recent COVID-19 coronavirus outbreak and related government, private sector, and individual consumer responsive actions; our highly competitive market and increasing competition; our reliance on and limited control over third-party suppliers to provide fabrics for and to produce our products; suppliers or manufacturers not complying with our Vendor Code of Ethics or applicable laws; the operations of many of our suppliers are subject to international and other risks; an economic downturn or economic uncertainty in our key markets; 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 guest 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 have technology-based systems function effectively and grow our e-commerce business globally; changes in consumer shopping preferences and shifts in distribution channels; 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; global economic and political conditions and global events such as health pandemics; our ability to deliver our products to the market and to meet guest expectations if we have problems with our distribution system; imitation by our competitors; our ability to protect our intellectual property rights; our ability to source and sell our merchandise profitably or at all if new trade restrictions are imposed or existing trade restrictions become more burdensome; changes in tax laws or unanticipated tax liabilities; our ability to manage our growth and the increased complexity of our business effectively; 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