lululemon athletica inc. updates Revenue and Earnings Expectations for the Fourth Quarter Ahead of the ICR Conference

lululemon athletica inc. (NASDAQ:LULU) on January 10, 2022, announced that, for the fourth quarter of fiscal 2021, it now expects the company’s net revenue to be toward the low end of its range of USD 2.125 billion to USD 2.165 billion, and that it expects diluted earnings per share and adjusted diluted earnings per share to be toward the low end of its ranges of USD 3.24 to USD 3.31 and USD 3.25 to USD 3.32, respectively.

Calvin McDonald, Chief Executive Officer, commented: “We are closing out a strong 2021 in the coming weeks, and we’re pleased with how lululemon has delivered over the course of the year. We started the holiday season in a strong position but have since experienced several consequences of the Omicron variant, including increased capacity constraints, more limited staff availability, and reduced operating hours in certain locations. I am proud of how our teams continue to deliver for our guests, and we are excited about what the future holds for lululemon.”

Members of the management team will be meeting virtually with analysts and investors at the ICR Conference on January 10-12, 2022.

lululemon athletica inc. (NASDAQ:LULU) is a healthy lifestyle inspired athletic apparel company for yoga, running, training, and most other sweaty pursuits, creating transformational products and experiences which enable people to live a life they love. Setting the bar in technical fabrics and functional designs, lululemon works with yogis and athletes in local communities for continuous research and product feedback. For more information, visit www.lululemon.com.

Non-GAAP Financial Measures

The adjusted earnings per share expectation continues to exclude certain integration and acquisition-related compensation costs incurred in connection with the acquisition of MIRROR, and the related tax effects. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP.

The following table reconciles expected adjusted diluted earnings per share with the most directly comparable measure calculated in accordance with GAAP.