Lululemon Athletica Inc LULU
Q3 2012 Earnings Call Transcript

Transcript Call Date 12/06/2012

Operator: Good day, ladies and gentlemen, and welcome to the lululemon athletica Q3 2012 Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will be given at that time.

I'd now like to introduce your host for today's conference call Ms. (Therese Hayes). You may begin ma'am.

Therese Hayes - VP of Communication and Sustainability: Hi, good morning, everybody and thank you for joining us on our third quarter 2012 conference call. A copy of today's press release is available on the Investor Relations section of our website and furnished on Form 8-K with the SEC and available on the Commission's website at

Shortly after we end this morning, a recording of today's call will be available as a replay for 30 days also on the website. Hosting our call today is Christine Day, the Company's CEO; John Currie, the Company's CFO; and Sheree Waterson, our Chief Product Officer will also be available during the Q&A portion of the call.

We would like to remind everyone of course that statements contained on this call which are not historical facts may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results might differ materially from those projected in such statements due to a number of risks and uncertainties, all of which are described in the Company's filings with the SEC. We've got a limit of one hour for today's call, so when we get to the Q&A, please limit yourself to one question at a time to give others the opportunity to also have their questions addressed that would be great.

With that, I'll turn it over to Christine Day.

Christine Day - CEO: Thank you, Therese. Good morning, everyone and thank you for joining us today to discuss our stellar third quarter results. I'm very proud of the team for achieving yet another strong quarter and coming in ahead of our expectation. Our robust financial results in the third quarter were largely driven by first rate execution, beautiful product, community engagement and continued strength in our e-commerce business.

During the course of the quarter we celebrated the opening of an ivivva store, three stores in Australia and North American store openings in Omaha, Pittsburg, New York, Memphis, Baltimore, Columbus, Franklin and Bridgewater, New Jersey. I'm continually amazed with the creativity of our teams in enrolling their communities through the store opening events which this quarter included the Gospel of Sweat at New York City's historic upper west side riverside church. Both the name of the event and the location were intentionally created to engage a conversation about spirituality and the mindfulness in New York City yoga studios, gym studios, fitness studios and the laps run around the reservoir.

200 yogis practicing Mandala Yoga style back to back on the roof top of the iconic Peabody Hotel in Memphis to celebrate the opening of that region's third store. For the opening of our second store in Columbus, both stores came together for a huge community class, (Omaha) where 500 yogis practice yoga inside the Ohio state University altogether. When we entered the Columbus market as a showroom three years ago, there was only one yoga studio and today, there are 15 studios. This speaks volumes to the work both teams have done in their community to cultivate yoga and be the resource for all things yoga related.

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