New appointment at Canadian Lululemon Athletica
At the occasion of the results of the last thirteen weeks ended October 28, 2012 with net revenue for the quarter of CDN 230.2 million (+ 37 %) and an increase of comparable stores sales of 18 % and direct to consumer revenues of 46.1 million (+ 89 %) or 14.3 % of total company revenues and in the third quarter of fiscal 2012 of 10.4 % of total company revenues and a gross profit of 36 % or USD 175.3 million the percentage of net revenue gross profit decreased from 55.8 to 55.4 % in the third quarter and income from operation increasing 35 % to CND 80.6 million or 25.5 % (25.9 %) of net revenue was announced a new nomination to the board of directors
The newly appointed member of the board is William H. Glenn, President of Global Commercial Services for American Express Company with overall responsibility for the business serving American Express’ corporate clients – Global Corporate Payments and global Business Travel. Glenn has served in several leadership positions with American Express Company since joining the company in 2002, including President of Global Merchant Services and was named an Executive Officer in 2008. Glenn has also led the American Express Company’s efforts to expand Card acceptance in new categories such as B2B transactions and quick service restaurants. He founded American Express Business insights, the analytical and consulting organisation within the company. Prior to joining American Express he served as President of Pepsi-Cola North America’s Food Service Division, overseeing sales, marketing operations, customer service and finance for the unit.
Lululemon is a yoga-inspired athletic apparel company that creates components for people to live long, healthy and fun lives, by producing products that keep people active and stress free and by technical fabrics and functional designs of its products. The company works with yogis and athletes in local communities for continuous research and product feedback.