Lululemon Athletica Inc. (NASDAQ:LULU) Q2 2019 Earnings Conference Call - Final Transcript

Sep 05, 2019 • 04:30 pm ET


Lululemon Athletica Inc. (NASDAQ:LULU) Q2 2019 Earnings Conference Call - Final Transcript


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Thank you for standing by. This is the conference operator. Welcome to the lululemon Second 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 of Investor Relations for Lululemon. Please go ahead, sir.

Howard Tubin

Thank you and good afternoon. Welcome to lululemon's Second Quarter Earnings Conference Call. Joining me today to talk about our results are Calvin McDonald, CEO. Celeste Burgoyne, EVP Americas and Global Guest Innovation 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, by which 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 and operating statistics for the second 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'd like to turn the call over to Calvin.

Calvin McDonald

Thanks, Howard. I'd like to welcome everyone to our second quarter earnings call. I'm pleased to take you through our results, which reflect continued strength across all areas of the business. Lululemon had another successful quarter as our teams across the world continue to build upon the momentum in our business and execute on our Power of Three vision for growth. On today's call, I'll provide an overview of our Quarter 2 results, including further details on some key initiatives within product innovation, and our international business.

Next, Celeste Burgoyne, our EVP of the Americas and Global Guest Innovation will join us to discuss the success within the North American region, early learnings from our