Lululemon Athletica Inc. (NASDAQ:LULU) Q1 2019 Earnings Conference Call Transcript

Jun 12, 2019 • 04:30 pm ET


Lululemon Athletica Inc. (NASDAQ:LULU) Q1 2019 Earnings Conference Call Transcript


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Thank you for standing by. This is the conference operator. Welcome to the lululemon athletica inc. First Quarter 2019 Conference Call. As a reminder, all participants are in listen-only mode, and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. (Operator Instructions)

I would now like to turn the conference over to Howard Tubin, Vice President, Investor Relations for lululemon athletica inc. Please go ahead, sir.

Howard Tubin

Thank you, and good afternoon. Welcome to lululemon's first quarter earnings conference call. Joining me today to talk about our results are Calvin McDonald, CEO; Stuart Haselden, COO and EVP, International; and PJ Guido, CFO.

Before we get started, I'd like to take this opportunity to remind you that our remarks today will include forward-looking statements, reflecting management's current forecast of certain aspects of lululemon's future. These statements are based on current information, which we have assessed, but which by its nature is dynamic and subject to rapid and even abrupt changes. 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. Any forward-looking statements that we make on this call are based on assumptions as of today and we expressly disclaim any obligation or undertaking to update or revise any of these statements as a result of new information or future events.

During this call, we will present both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in our Quarterly Report on Form 10-Q and in today's earnings press release. The press release and accompanying Quarterly Report on Form 10-Q are available under the Investors section of our website at

Before we begin the call, I'd like to remind our investors to visit our Investor site, where you'll find a summary of our key financial operating statistics for the first quarter as well as our quarterly infographic. Today's call is scheduled for one hour, so please limit yourself to one question at a time to give others the opportunity to have their questions addressed.

And, now, I will turn the call over to Calvin.

Calvin McDonald

Thank you, Howard, and welcome everyone to our first quarter earnings call. As we begin, I would first like to say how much I enjoyed hosting our recent Analyst Day Meeting in New York. We are incredibly excited about the growth opportunities we have in front of us and we look forward to delivering on our five-year growth plan.

lululemon had another successful quarter, driven by many strengths in our business across product, channel and geography. Our innovative merchandise assortments and our engagement with guests around the world enables the financial results we're proud to report to you today.

On today's call, I'll start by sharing some of our key highlights from quarter one, including