Lululemon Athletica Inc. (NASDAQ:LULU) Q2 2020 Earnings Conference Call - Final Transcript

Sep 08, 2020 • 04:30 pm ET

Previous

Lululemon Athletica Inc. (NASDAQ:LULU) Q2 2020 Earnings Conference Call - Final Transcript

Share
Close

Loading Event

Loading Transcript

Presentation
Operator
Operator

Thank you for standing by. This is the conference operator. Welcome to the Lululemon Athletica Inc. Second Quarter 2020 Earnings Conference Call. [Operator Instructions] And the conference is being recorded. [Operator Instructions]

I would now like to turn the conference over to Howard Tubin, Vice President, Investor Relations for Lululemon Athletica. Please go ahead.

Executive
Howard Tubin

Thank you, and good afternoon. Welcome to Lululemon Second Quarter Earnings Conference Call. Joining me today to talk about our results are Calvin McDonald, CEO; Meghan Frank, SVP, financial planning and analysis; and Alex Grieve, VP, controller.

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 reports 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 www.lululemon.com.

Before we begin the call, I'd like to remind 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 infograph. [Operator Instructions]

And now I'd like to turn the call over to Calvin.

Executive
Calvin McDonald

Thank you, Howard. I'm excited to be here with you today to provide an update on our performance for the second quarter, share our learnings as we continue to adapt to and navigate the uncertain COVID-19 environment and highlight trends we're seeing in the business as we look forward to the back half of the year. The results we're sharing today demonstrate the strength of the lululemon brand as we face these unexpected times and see the future of retail accelerate through an expansion of e-commerce and digital sweat offerings.

Our products, built with technical innovation and performance fabrics, is ideal for enabling the work-from-home and versatile lifestyle that has grown exponentially in the COVID-19 world. Building upon these components, our acquisition of at-home Fitness innovator, MIRROR, and our continued expansion globally demonstrates our ability to navigate the near-term while planning for the long-term growth.

Today, I'm joined by Meghan Frank, our SVP of financial planning