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Form 8-K lululemon athletica inc. For: Jan 11

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Exhibit 99.1

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lululemon athletica inc. Updates Income and Earnings Anticipations

for the Fourth Quarter Forward of the ICR Conference

Vancouver, British Columbia – January 11, 2021 – lululemon athletica inc. (NASDAQ:LULU) today declared the corporation now expects income and earnings to be at the high end of its prior range of anticipations for the fourth quarter of fiscal 2020 ending January 31, 2021.

Calvin McDonald, Main Government Officer, commented: “We’re pleased with the momentum in excess of the vacation time period as our investments in lululemon and MIRROR allowed us to link with visitors each physically and digitally. We continue being confident about our options in 2021 and fully commited to our Energy of Three advancement program.”

For the fourth quarter of fiscal 2020 compared to the fourth quarter of fiscal 2019, the firm now expects the advancement amount in net income to be at the large stop of its mid-to-higher teens expectation. The company also expects the development price in modified diluted earnings per share to now be at the higher conclusion of its mid-single digits expectation.

Users of the management crew will be meeting almost with analysts and investors at the ICR Meeting on January 11-13, 2021.

Please refer to portion under entitled “Non-GAAP Money Measures.”

About lululemon athletica inc.

lululemon athletica inc. (NASDAQ:LULU) is a balanced lifestyle inspired athletic apparel company for yoga, managing, teaching, and most other sweaty pursuits, developing transformational products and solutions and encounters which enable people to stay a life they love. Setting the bar in technological materials and purposeful designs, lululemon functions with yogis and athletes in area communities for constant investigate and product or service responses. For far more details, take a look at www.lululemon.com.

Forward-Seeking Statements:

This press release includes estimates, projections, statements relating to the Company’s enterprise strategies, objectives, and envisioned operating final results that are “forward-wanting statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Area 27A of the Securities Act of 1933 and Segment 21E of the Securities Trade Act of 1934. In several instances, you can identify forward-wanting statements by phrases this sort of as “might,” “will,” “must,” “expects,” “strategies,” “anticipates,” “outlook,” “thinks,” “intends,” “estimates,” “predicts,” “possible” or the detrimental of these terms or other comparable terminology. These ahead-hunting statements also include the Company’s guidance and outlook statements. These statements are primarily based on management’s current anticipations, but they include a quantity of risks and uncertainties. Real benefits and the timing of gatherings could differ materially from those people anticipated in the ahead-hunting statements as a consequence of challenges and uncertainties, which contain, without the need of limitation: the Firm’s capability to preserve the worth and name of its brand name the present COVID-19 coronavirus pandemic and linked government, private sector, and specific customer responsive actions its really competitive marketplace and raising competitors rising product expenses and decreasing promoting prices its potential to anticipate client preferences and successfully produce and introduce new, innovative and up to date goods its potential to precisely forecast guest desire for its goods modifications in buyer buying choices and shifts in distribution channels its capacity to grow internationally in mild of its restricted running experience and confined brand name recognition in new global marketplaces its capability to notice the opportunity gains and synergies sought with the acquisition of MIRROR its ability to handle its growth and the elevated complexity of its small business correctly its ability to successfully open new shop destinations in a well timed method seasonality its reliance on and constrained management more than 3rd-party suppliers to deliver fabrics for and to produce its goods the operations of many of its suppliers are subject matter to global and other dangers suppliers or manufacturers not complying with its Vendor Code of Ethics or applicable legislation its means to produce its products to the sector and to satisfy visitor expectations if it has problems with its distribution system growing labor prices and other aspects involved with the production of its goods in South and South East Asia its capacity to safeguard towards protection breaches with regard to its data technologies methods any material disruption of its information and facts devices its capacity to have know-how-based methods functionality properly and expand its e-commerce small business globally an economic economic downturn, despair, or downturn or financial uncertainty in its key


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markets worldwide financial and political conditions and world occasions such as well being pandemics its potential to source and sell its merchandise profitably or at all if new trade constraints are imposed or current trade constraints turn into far more burdensome changes in tax guidelines or unanticipated tax liabilities its skill to comply with trade and other regulations fluctuations in foreign forex exchange charges imitation by its competitors its potential to defend its mental house rights conflicting logos and the prevention of sale of specific products and solutions its publicity to several sorts of litigation and other hazards and uncertainties established out in filings manufactured from time to time with the United States Securities and Trade Fee and obtainable at www.sec.gov, like, without the need of limitation, its most latest experiences on Type 10-K and Kind 10-Q. You are urged to take into consideration these elements diligently in evaluating the forward-on the lookout statements contained herein and are cautioned not to spot undue reliance on these kinds of forward-hunting statements, which are skilled in their entirety by these cautionary statements. The forward-searching statements created herein communicate only as of the date of this press launch and the Firm undertakes no obligation to publicly update this sort of ahead-wanting statements to mirror subsequent gatherings or situations, other than as may well be demanded by legislation.

Non-GAAP Fiscal Steps

The adjusted earnings for each share expectation continues to exclude certain integration and acquisition-connected payment fees incurred in connection with the acquisition of MIRROR, and the associated tax results. The presentation of this economic information and facts is not meant to be considered in isolation or as a substitute for the money data ready and offered in accordance with GAAP.

The adhering to desk reconciles envisioned progress in modified diluted earnings for every share, for the fourth quarter of fiscal 2020 in contrast to the fourth quarter of fiscal 2019, with the most right comparable measure calculated in accordance with GAAP.

Share Expansion in Diluted Earnings Per Share
GAAP benefits Minimal-Solitary Digits
MIRROR integration and acquisition-similar expenses, web of tax 2% to 3%
Adjusted benefits (non-GAAP) Mid-Solitary Digits

Contacts

Traders:

lululemon athletica inc.

Howard Tubin

1-604-732-6124

or

ICR, Inc.

Joseph Teklits/Caitlin Churchill

1-203-682-8200

Media:

lululemon athletica inc.

Erin Hankinson

1-604-732-6124

or

Brunswick Group

Eleanor French

1-415-671-7676