Lululemon Athletica Inc. Files 2024 Annual Report on Form 10-K

TL;DR

<b>Lululemon Athletica Inc. has filed its 2024 Form 10-K detailing its fiscal year performance and financial standing.</b>

AI Summary

lululemon athletica inc. (LULU) filed a Annual Report (10-K) with the SEC on March 21, 2024. The filing covers the fiscal year ending January 28, 2024. Lululemon Athletica Inc. is incorporated in Delaware. The company's principal executive offices are located at 1818 Cornwall Avenue, Vancouver, A1, V6J 1C7. The filing includes data related to common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income. The filing references US GAAP standards for financial reporting.

Why It Matters

For investors and stakeholders tracking lululemon athletica inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Lululemon's financial health and operational activities for the fiscal year 2023, crucial for investors to assess performance and future outlook. The detailed financial data, including equity and retained earnings, allows stakeholders to understand the company's capital structure and profitability trends over the past fiscal year.

Risk Assessment

Risk Level: low — lululemon athletica inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags or significant negative disclosures beyond typical business risks.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Lululemon's financial position and strategic direction for the upcoming fiscal year.

Key Numbers

• 2024-01-28 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-03-21 — Filing Date (FILED AS OF DATE)
• 2023-01-30 — Prior Fiscal Year End (Prior fiscal year end date)
• 2022-01-31 — Prior Fiscal Year End (Prior fiscal year end date)
• 2021-01-31 — Prior Fiscal Year End (Prior fiscal year end date)

Key Players & Entities

• lululemon athletica inc. (company) — COMPANY CONFORMED NAME
• Lululemon Corp. (company) — FORMER COMPANY
• 20070420 (date) — DATE OF NAME CHANGE
• 20240128 (date) — CONFORMED PERIOD OF REPORT
• 20240321 (date) — FILED AS OF DATE
• 1818 Cornwall Avenue (address) — BUSINESS ADDRESS STREET 1
• Vancouver (location) — BUSINESS ADDRESS CITY
• DE (location) — STATE OF INCORPORATION

FAQ

Key Dates

• 2024-01-28: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-21: Filing Date — Date the 10-K was officially filed with the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the official annual financial and business overview for Lululemon.)

US GAAP

Generally Accepted Accounting Principles in the United States, the common set of accounting principles, standards, and procedures by which financial statements are prepared. (Indicates the accounting standards Lululemon follows for its financial reporting.)

Key Financial Figures

• $0.005 — ich registered Common Stock, par value $0.005 per share LULU Nasdaq Global Select Mar
• $1,609 — in malls. Our sales per square foot was $1,609, $1,580, and $1,443 for 2023, 2022, and
• $1,580 — . Our sales per square foot was $1,609, $1,580, and $1,443 for 2023, 2022, and 2021 re
• $1,443 — per square foot was $1,609, $1,580, and $1,443 for 2023, 2022, and 2021 respectively.
• $75.0 million — t Agenda is a goal to invest a total of $75.0 million to advance equity in well-being by the
• $44.8 million — y 28, 2024, we have invested a total of $44.8 million (1) towards this goal. The Be Human pi

Filing Documents

• lulu-20240128.htm (10-K) — 2475KB
• lulu-20240128xex31.htm (EX-3.1) — 59KB
• lulu-20240128xex101.htm (EX-10.1) — 263KB
• lulu-20240128xex1012.htm (EX-10.12) — 13KB
• lulu-20240128xex231.htm (EX-23.1) — 2KB
• lulu-20240128xex311.htm (EX-31.1) — 9KB
• lulu-20240128xex312.htm (EX-31.2) — 8KB
• lulu-20240128xex321.htm (EX-32.1) — 7KB
• lulu-20240128_g1.jpg (GRAPHIC) — 74KB
• lulu-20240128_g10.jpg (GRAPHIC) — 103KB
• lulu-20240128_g2.jpg (GRAPHIC) — 27KB
• lulu-20240128_g3.jpg (GRAPHIC) — 27KB
• lulu-20240128_g4.jpg (GRAPHIC) — 27KB
• lulu-20240128_g5.jpg (GRAPHIC) — 47KB
• lulu-20240128_g6.jpg (GRAPHIC) — 43KB
• lulu-20240128_g7.jpg (GRAPHIC) — 35KB
• lulu-20240128_g8.jpg (GRAPHIC) — 36KB
• lulu-20240128_g9.jpg (GRAPHIC) — 35KB
• 0001397187-24-000010.txt (&nbsp;) — 12545KB
• lulu-20240128.xsd (EX-101.SCH) — 68KB
• lulu-20240128_cal.xml (EX-101.CAL) — 116KB
• lulu-20240128_def.xml (EX-101.DEF) — 261KB
• lulu-20240128_lab.xml (EX-101.LAB) — 833KB
• lulu-20240128_pre.xml (EX-101.PRE) — 573KB
• lulu-20240128_htm.xml (XML) — 1809KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 10 Item 1C. Cybersecurity 22 Item 2.

Properties

Properties 24 Item 3.

Legal Proceedings

Legal Proceedings 24 Item 4. Mine Safety Disclosures 24 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 25 Item 6. Selected Consolidated Financial Data 26 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 44 Item 8.

Financial Statements

Financial Statements 46 Index for Notes to the Consolidated Financial Statements 54 Item 9A.

Controls and Procedures

Controls and Procedures 79 Item 9B. Other Information 80 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 81 PART III Item 10. Directors, Executive Officers and Corporate Governance 82 Item 11.

Executive Compensation

Executive Compensation 82 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 82 Item 13. Certain Relationships and Related Transactions, and Director Independence 83 Item 14. Principal Accountant Fees and Services 83 PART IV Item 15. Exhibits and Financial Statement Schedule 84 Item 16. Form 10-K Summary 86

Signatures

Signatures 87 Table of Contents PART I Special Note Regarding Forward-Looking Statements This report and some documents incorporated herein by reference include estimates, projections, statements relating to our business plans, objectives, and expected operating results that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We use words such as "anticipates," "believes," "estimates," "may," "intends," "expects," and similar expressions to identify forward-looking statements. Discussions containing forward-looking statements may be found in the material set forth under "Business", "Management's Discussion and Analysis of Financial Condition and Results of Operations", and in other sections of the report. All forward-looking statements are inherently uncertain as they are based on our expectations and assumptions concerning future events. Any or all of our forward-looking statements in this report may turn out to be inaccurate. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. They may be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties, including the risks, uncertainties and assumptions described in the section entitled "Item 1A. Risk Factors" and elsewhere in this report. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this report may not occur as contemplated, and our actual results could differ materially from those anticipated or implied by the forward-looking statements. All forward-looking statements in this report are made as of the date hereof, based on information available to us as o

BUSINESS

ITEM 1. BUSINESS General lululemon athletica inc. is principally a designer, distributor, and retailer of technical athletic apparel, footwear, and accessories. We have a vision to create transformative products and experiences that build meaningful connections, unlocking greater possibility and wellbeing for all. Since our inception, we have fostered a distinctive corporate culture; we promote a set of core values in our business which include taking personal responsibility, acting with courage, valuing connection and inclusion, and choosing to have fun. These core values attract passionate and motivated employees who are driven to achieve personal and professional goals, and share our purpose "to elevate human potential by helping people feel their best." In this Annual Report on Form 10-K for the fiscal year ended January 28, 2024, lululemon athletica inc. (together with its subsidiaries) is referred to as "lululemon," "the Company," "we," "us," or "our." We refer to the fiscal year ended January 28, 2024 as "2023," the fiscal year ended January 29, 2023 as "2022," and the fiscal year ended January 30, 2022 as "2021." Our next fiscal year ends on February 2, 2025 and is referred to as "2024." Components of this discussion of our business include: Our Products Our Markets and Segments Integrated Marketing Product Design and Development Sourcing and Manufacturing Distribution Facilities Competition Seasonality Human Capital Intellectual Property Securities and Exchange Commission Filings Our Products We offer a comprehensive line of performance apparel, footwear, and accessories marketed under the lululemon brand. Our apparel assortment includes items such as pants, shorts, tops, and jackets designed for a healthy lifestyle including 1 Table of Contents athletic activities such as yoga, running, training, and most other activities. We also offer apparel designed for being on the move and fitness-inspired accessories. We expect to continue to

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View this 10-K filing on SEC EDGAR