Вы находитесь на странице: 1из 9

9/17/2015

lululemonathletica inc.
2015StifelConsumerConferenceSeptember17,2015

forwardlookingstatements
Thispresentationcontains"forwardlookingstatements"withinthemeaningofSection 27AoftheSecuritiesActof1933
andSection 21EoftheSecuritiesExchangeActof1934thatinvolverisks,uncertaintiesandassumptions,suchas
statementsregardingourfuturefinancialconditionorresultsofoperations,ourprospectsandstrategiesforfuture
growth,thedevelopmentandintroductionofnewproducts,andtheimplementationofourmarketingandbranding
strategies.Inmanycases,youcanidentifyforwardlookingstatementsbytermssuchas"may,""will,""should,""expects,"
"plans,""anticipates,""outlook,""believes,""intends,""estimates,""predicts,""potential"orthenegativeoftheseterms
orothercomparableterminology.Theseforwardlookingstatementsarebasedonmanagement'scurrentexpectationsbut
theyinvolveanumberofrisksanduncertainties.Actualresultsandthetimingofeventscoulddiffermateriallyfromthose
anticipatedintheforwardlookingstatementsasaresultofrisksanduncertainties,whichinclude,withoutlimitation:an
economicdownturnoreconomicuncertaintyinourkeymarkets;increasingproductcostsanddecreasingsellingprices;
ourinabilitytoanticipateconsumerpreferencesandsuccessfullydevelopandintroducenew,innovativeandupdated
products;ourinabilitytoaccuratelyforecastcustomerdemandforourproducts;ourinabilitytomanageourgrowthand
theincreasedcomplexityofourbusinesseffectively;thefluctuatingcostsofrawmaterials;ourrelianceonandlimited
controloverthirdpartysupplierstoprovidefabricsforandtoproduceourproducts;ourhighlycompetitivemarketand
increasingcompetition;anunforeseendisruptionofourinformationsystems;ourinabilitytodeliverourproductstothe
marketandtomeetcustomerexpectationsduetoproblemswithourdistributionsystem;ourinabilitytocancelstore
leasesifanexistingornewstoreisnotprofitable;increasinglaborcostsandotherfactorsassociatedwiththeproduction
ofourproductsinChinaorothercountries;ourinabilitytosuccessfullyopennewstorelocationsinatimelymanner;our
failuretomaintainthevalueandreputationofourbrand;ourfailuretocomplywithtradeandotherregulations;our
competitorsmanufacturingandsellingproductsbasedonourfabricsandmanufacturingtechnologyatlowerpricesthan
wecan;ourfailuretoprotectourintellectualpropertyrights; andotherrisksanduncertaintiessetoutinfilingsmadefrom
timetotimewiththeUnitedStatesSecuritiesandExchangeCommissionandavailableatwww.sec.gov,including,without
limitation,ourmostrecentreportsonForm10KandForm10Q.Youareurgedtoconsiderthesefactorscarefullyin
evaluatingtheforwardlookingstatementscontainedhereinandarecautionednottoplaceunduerelianceonsuch
forwardlookingstatements,whicharequalifiedintheirentiretybythesecautionarystatements.Theforwardlooking
statementsmadehereinspeakonlyasofthedateofthispresentationandthecompanyundertakesnoobligationto
publiclyupdatesuchforwardlookingstatementstoreflectsubsequenteventsorcircumstances.
|2

9/17/2015

StrategyOverview
Product

Relentlessproductinnovation

$3Bwomensbusiness
$1Bmensbusiness

Guest
Experience

Storeandwebsiteexperience

Webpenetration>25%
DDsquarefootagegrowthCAGR
OmnichannelandCRMexcellence

Brand&
Community

Growourcollective

Invest/evolvecommunitystrategy
Increasebrandawarenessglobally

International

Profitable,overseasexpansion

APAC
EMEA

Operational
Excellence

Supplychainandinfrastructure

investments

Flexible,reliablesupplychain
Unlockproductmarginrecovery:+300bpsgoal

40storesby2017,
rampingfasterbeyond

|3

1H:15Progress
Product

Womenspantwalllaunch DDcomps
25%menscompyeartodate

Guest
Experience

33%ecommercecompyeartodate
Positivestorecomps Q2allregionspositive
Successfulstoreexpansions

Brand&
Community

GetQuiet,LiveLoud16citytour
SeaWheezehalfmarathon

International

4newstoresopenin3 countries
17showroomsoperatedin9countries

Operational
Excellence

Teamandsystemsinvestments
Criticalseniormanagementadds

|4

9/17/2015

product pantwalllaunch

largestcoordinatedproductlaunch focusedon
extendingdesign,quality,andinnovation
|5

guestexperience Robsonrelocation

squarefootageincreaseof40%withsalesincrease
trackingto+75%

|6

9/17/2015

brandandcommunity SeaWheeze

morethan10,000participantsfrom17+countries
helpingextendbrandawareness

|7

internationalgrowth HongKongIFCMall

ontrackforUS$8M annuallyandsalespersquarefoot
of$6,000

|8

9/17/2015

financialoverview

Q2financialresults
SecondQuarter2015*
Revenue

$453.0million

Combined
Comp

+11%

GrossMargin

46.8%

SG&A

32.1%

DilutedEPS

$0.34

Ecommerce
penetration

18.2%

Storeopenings
Inventory

20
$281 million/+55%
*Q2resultswerereportedonSept.10,2015

|10

9/17/2015

Q2grossmargin whathappened?
Q2
2014GrossMargin

50.5%

ProductMargin

(110)bps

Markdowns

(30)bps

Air Freight

(50)bps

FX

(70)bps

BuyingCosts
Occupancy &Depreciation

2015GrossMargin

(55)bps

Costvariances portdisruptions

(35)bps

Rawmaterialsliabilityactions

(20)bps

Selling mix(31%menscomp)

0
(110)bps

46.8%
|11

2015grossmarginoutlook
Guidance

2014GrossMargin

Q2

Q3

Q4

50.5%

50.3%

51.5%

delever

start tostabilize

similartoQ2

sequentiallybetter

ProductMargin

(110)bps

Markdowns

(30)bps

Air Freight

(50)bps

BuyingCosts

delever
similartoprior Qs

delever

lever

sequentiallybetter

FX

(70)bps

Occupancy &Depreciation

(110) bps

2015GrossMargin

delever
similartoQ2

46.8%

flat

flat

delever

delever

sequentiallyworse

sequentiallybetter

delever

delever

similartoQ2

sequentiallybetter

~47%

TBD
|12

9/17/2015

2016grossmarginrecoveryoutlook
ProductMargin
AirFreight (finished&rawmaterials)
ImprovedCosting

+300bpsimprovement(preFX)
vs. 2014

RawMaterialsEfficiencies
Logistics&Distribution

OtherGMComponents
ForeignExchange

deleverage
deleverage

Occupancy& Depreciation

sequentiallybetterthanFY15

BuyingCosts

leverage
|13

2015inventoryoutlook
Q2

Q3

Q4

InventoryBalance

+55%

stillelevated

betteraligned

Markdowns as%ofSales

30bps

similarto1H:15

similarto1H:15

170K units
online
warehousesale
+
outlets

100Kunits
physical
warehouse sale
+
outlets

130Kunits
physical
warehousesale
+
outlets

ExcessClearance Movement

|14

9/17/2015

quarterlyandfullyearguidance
ThirdQuarter2015
Revenue:$477millionto$482million
CombinedComp:highsingledigits
GrossMargin:approx.47%
EPS:$0.35to$0.37

FiscalYear2015
Revenue:$2.025billionto$2.055billion
CombinedComp:highsingledigits
EPS:$1.87to$1.92
CapEx:$135to$140million
StoreOpenings:60stores
*Annualguidanceassumes141.8Mdilutedweightedaverage
sharesoutstandingand30.2%taxrate.

|15

thankyou!
formoreinfo:
www.lululemon.com
investors@lululemon.com

9/17/2015

lululemonathletica inc.
2015StifelConsumerConferenceSeptember17,2015

Вам также может понравиться