We will double our men's business this year, and our international business is ahead of the 4-time growth we put out to be completed by the end of '23. It also excludes the impact of any future share repurchases. *Stock Advisor returns as of August 9, 2021. Feet Added Excellent results. Listen to Webcast. During the works with yogis and athletes in local communities for continuous research and product feedback. We are seeing good growth, we are investing in the country, supporting the teams, and overall, the international business, like our business in North America and some of our category opportunities, very early, and growth across all channels in the markets and product categories. That's why we see such balanced growth across markets, channels, and product categories. And perhaps a little bit more detail on your outlook for China momentum into the second half. Stores Open $881.3 million The next question comes from Jay Sole with UBS. Q4 2020: HTML Open 2020 Q4 2020 Press releases: Show 2020 Q4 2020 webcast: or Vancouver yoga-togs merchant Lululemon . I'm proud of our recent announcements to develop advanced raw materials that will help us live into our goals and create a healthier world. We delivered positive growth in e-commerce, which is even more impressive given the strong performance one year ago, and we continue to deliver at a high level across all major categories and geographies. When we look to Q4, we're really pushing into our omnichannel strengths and will be agile across both channels, meaning the demand where it comes to us but we're sharing slightly above 2019 productivity for Q3. Gross margin was 58.0%, an increase of 70 basis points compared to the fourth quarter of fiscal 2018. Trending: Addressable Market . Be first to know about our newest products, limited-time offers, community events, and more. In our store channel, sales increased 9% on a two-year CAGR basis, above our expectations of approximately flat. So maybe, Calvin, as we think about 28% revenue growth relative to 2019 in the second quarter, mid-20s in the first quarter, is there a way to rank the drivers of the outperformance that you're seeing relative to that 19% pre-pandemic? Reconciliation of Non-GAAP Financial Measures That continues to differentiate the brand and its unique position as premium but through quality innovation. Tapestry Acceleration Program Infographic. For more information about our privacy practices, please refer to our privacy policy available in our stores or on our website at https://www.lululemon.co.uk/en-gb/legal/privacy.html for UK residents or https://www.eu.lululemon.com/en-lu/content/privacy.html for EU resident (Privacy Policy). The Company repurchased 1.1 million shares of its own common stock at an average cost of. It's Meghan. Furthermore, we do not believe the adjustments are reflective of our expectations of our future operating performance and believe these non-GAAP measures are useful to investors because of their comparability to our historical information. The legal basis for this processing is the performance of the agreement between you and lululemon related to the Promotion. I also want to give some context around these numbers and the quarter-after-the quarter performance we've been delivering. The acquisition will strengthen lululemons omni guest experiences through digital sweat. U.S. Obviously, the environment's really dynamic and fluid today. And third are really the roles in categories that our brand plays in and how the guests are wearing and using the gear. Investors have been high on the company's long-term growth prospects across growing digital and international sales, and the latest results showed continued momentum in these areas. Embrace hands-free happiness with our edit of bags for workouts and hangouts. This was an incredible shift that reflects Lululemon's loyal customer base and a strong response to its latest products. Investor Presentation. Mirror was on track to surpass US$100 million in revenue, according to a Lululemon investor presentation.) Twelve commitments detail specific actions across a range of global issues including diversity and inclusion, mental wellbeing, climate change, and circularity. Direct to consumer net revenue increased 35%. And the impact that COVID has had on TAM plays to the strengths and plays to our growth story and the opportunity that we see ahead for our brand. lululemon expands its Selfcare product line with Super Fine Face Mist made to hydrate and protect post-workout skin. And as this scale and as we continue to draw collections and learn, we are not anticipating, or how we factored in, margin pressure results. , Chief Executive Officer, commented: "2019 was a strong year for It operates in two segments, Company-Operated Stores and Direct to Consumer. There's a lot in that question, and I'll unpack a bit of it. inc. lululemon athletica Made from our newest innovation in technical performance fabric called smooth cover, this fabric offers our hug sensation, which provides incredible support through every pose in your practice. While this level of inventory can support our increased revenue guidance I'm going to walk through in a moment, it is lower than we had initially targeted due to supply chain challenges. 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 52 weeks ended Quarter Ended Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. We are so grateful for everyone's hard work and dedication. Quarter, Number of Lululemon boosted its holiday-quarter forecasts on December 11, just hours after it posted Street-beating earnings of $1.16 per share on a 22% gain in revenues to $1.12 billion. Consider that in fiscal 1994, Nike sales declined 3.6% to $3.79 billion. U.S. McDonald also announced last year at the Analyst Day that the brand has plans to enter the footwear market. I'll handle the first half and then handle the second part to your question on breakeven over to Meghan. Announces First Quarter Fiscal 2022 Results, lululemon athletica inc. Fantastic. Total comparable sales increased 17%, or increased 18% on a constant dollar basis. I mean, so much is going on, right, so many puts and takes. Moving to SG&A. inc. Press Releases; Events & Presentations; Financial Information. The Power 3 initiatives focusing on product, guest experience, and market expansion are still the key areas of focus that we will drive our innovation through. Profitability improved as this pipeline of releases more than offset . We share personal data with our legal, financial, insurance and other advisors in connection with the kinds of corporate transactions described above or in connection with the management of all or part of lululemons business or operations. Sign up now! for further information on these adjustments. We are committed to serving the best interests of our shareholders. We'll continue monitoring the rising costs associated with CAC while we move ahead with launching exciting new innovations and leveraging the synergies Lululemon brings to the relationship. Our EPS guidance continues to assume modest dilution from MIRROR in the 3% to 5% range, excluding acquisition and integration-related costs. Drivers of the deleverage continue to include our investment in MIRROR brand-building. Stores Opened Despite the competition in footwear, McDonald believes there are gaps in the market where they can address customer needs. 4:30 p.m. Eastern time When you access and use our websites, we also automatically collect data, including personal data, using cookies, pixels and local storage. The above is based on 29 Wall Street analysts offering 12-month price targets for Lululemon in the last 3 months. So it really supports the early earnings in growth across multiple levers. 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. 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. lululemon athletica To learn more, see our. Sumner, WA. [Operator instructions] I would now like to turn the conference over to Howard Tubin, vice president investor relations for Lululemon Athletica. 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/). Comparable Or maybe said differently, do you believe that TAM coming out of this crisis is larger, broadly multiyear for the Lulu brand or are you taking accelerated market share, or is it a combination of both? Looking at our business over the course of the second quarter and the first half of the year, I continue to be excited about our day-to-day progress. March 2020 Quarterly Financial Supplements PDF. As a reminder, we reported EPS of $0.96 in Q3 of 2019. Thank you, Brooke. The next question comes from Michael Binetti with Credit Suisse. Inventory grew 17% versus last year and was $790 million at the end of Q2. Our momentum continued in Q2 with our top and bottom-line results exceeding our expectations. A right to object to processing:You have the right to request that we stop processing personal data about you. So it is a very important driver of innovation for our business. And we always had visions of being able to bring that to the digital platform. Capital expenditures were $80 million for the quarter, compared to $53 million in the second quarter last year. North America To learn more see our privacy policy. Flying on the latest positive earnings results, Lululemon Athletica ( NASDAQ: LULU ) reached an impressive US$50b market cap in the last week. Sales1,2, Change in I had a follow-up first on the supply chain. His start-up, Properly, is revolutionizing the art of the real estate transactionand racking up millions in VC capital. Lorraine Hutchinson -- Bank of America Merrill Lynch -- Analyst.