Last $39.03 USD
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As of 8:10 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

lululemon athletica inc (LULU) Key Developments

Lululemon Founder's Reportedly In Talks On Possible Buyout

Lululemon Athletica Inc. (NasdaqGS:LULU) Founder Dennis Wilson's advisers have been talking to private equity firms including Leonard Green & Partners, L.P. to find out if they are interested in buying the fashionable yoga gear maker, The Wall Street Journal reported citing people familiar with the matter. We have seen a lot of premature speculation about transactions that Chip Wilson may or may not be considering. Chip will decide if and when he wants to do a transaction of any sort," a spokesman on behalf of founder Chip Wilson said in an email reply to Reuters.

Lululemon Founder Reportedly Mulls Alternatives For His Stake

The founder of Lululemon Athletica Inc. (NasdaqGS:LULU) has hired Goldman Sachs as he seeks a shakeup of the Board of Directors and may consider options, including a proxy fight, selling his stake or joining a privateequity firm in a buyout, The Wall Street Journal reported on. The newspaper reported on its website that Founder Dennis "Chip" Wilson is working with bankers at Goldman and is in the process of negotiating the terms of their arrangement as he looks to shake up the Board. Lululemon's Board of Directors has sought advice from bankers in response, one source told the newspaper.

lululemon athletica inc. Announces Retirement of John Currie as Chief Financial Officer

lululemon athletica inc. announced that Chief Financial Officer John Currie has notified the company of his intent to retire by the end of the fiscal year. lululemon will engage a leading executive search firm to initiate an open and comprehensive search for Mr. Currie's replacement to allow for a smooth transition.

Lululemon Athletica Inc. Announces Unaudited Consolidated Earnings Results for the Thirteen Weeks Period Ended May 4, 2014; Provides Earnings Guidance for the Second Quarter and Fiscal Year 2014

Lululemon Athletica Inc. announced unaudited consolidated earnings results for the thirteen weeks period ended May 4, 2014. For the period, the company reported net revenue increased 11% to $384.6 million from $345.8 million in the first quarter of fiscal 2013. Income from operations increased 6% to $69.8 million, and as a percentage of net revenue was 18.2% compared to 19.1% of net revenue in the first quarter of fiscal 2013. Income before provision for income taxes was $71,444,000 against $67,390,000 a year ago. Net income was $18,981,000 against $47,279,000 a year ago. Diluted earnings per share were $0.13 against $0.32 a year ago. Net cash provided by operating activities was $70,975,000 against $25,135,000 a year ago. For the second quarter of fiscal 2014, the company expects net revenue to be in the range of $375 million to $380 million based on a total combined comparable sales decrease in the low to mid single digits on a constant-dollar basis. Diluted earnings per share are expected to be in the range of $0.28 to $0.30 for the quarter. Consistent with first quarter, the company expects gross margin to be between 50% and 51%. This is down from a year ago, primarily due to a higher mix of lower marginal seasonal product, deleveraged against product and supply chain expenses within cost of goods sold, store occupancy and depreciation; and lastly, the impact of foreign exchange due to a weaker Canadian dollar compared to last year. For the full fiscal 2014, the company expects net revenue to be in the range of $1.770 billion to $1.800 billion based on a total combined comparable sales increase in the low single digits on a constant-dollar basis. Diluted earnings per share are expected to be in the range of $1.50 to $1.55 for the full year, or $1.71 to $1.76 normalized for the one-time tax adjustment related to the planned repatriation. The company assumes an overall effective tax rate of 38.6%, which includes the onetime tax adjustment, or 30.2%, excluding this tax adjustment. The company expects capital expenditures to be between $110 million and $115 million for fiscal 2014, reflecting new store buildouts, renovation capital for existing stores, IT and other head office capital, including expansion of existing premises.

Lululemon Athletica Inc., Annual General Meeting, Jun 11, 2014

Lululemon Athletica Inc., Annual General Meeting, Jun 11, 2014., at 12:00 Pacific Daylight. Location: Conway Room at the Shangri-La Hotel. Agenda: To elect three Class I directors to hold office for a three-year term and until their respective successors are elected and qualified; to ratify the selection of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for the fiscal year ending February 1, 2015; to adopt a non-binding resolution to approve the compensation of executive officers; to approve the adoption of the company's 2014 equity incentive plan; to transact such other business as may properly come before the meeting.

 

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Price/Earnings 22.7x
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Price/Book 5.0x
Price/Cash Flow 22.6x
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