LULU - Lululemon Athletica Inc. (LULU) Q1 2024 Earnings Call Transcript

2024-06-05 19:58:04 ET

Lululemon Athletica Inc. (LULU)

Q1 2024 Earnings Conference Call

June 5, 2024 4:30 PM ET

Company Participants

Howard Tubin - Vice President, Investor Relations

Calvin McDonald - Chief Executive Officer

Meghan Frank - Chief Financial Officer

Conference Call Participants

Brooke Roach - Goldman Sachs

Alex Stratton - Morgan Stanley

Matthew Boss - JPMorgan

Michael Binetti - Evercore

Ike Boruchow - Wells Fargo

Paul Lejuez - Citi

Sharon Zackfia - William Blair

Dana Telsey - Telsey Advisory Group

John Kernan - TD Cowen

Presentation

Operator

Thank you for standing by. This is the conference operator. Welcome to the lululemon athletica inc. First Quarter 2024 Results Conference Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. [Operator Instructions]

I would now like to turn the conference over to Howard Tubin, Vice President, Investor Relations for lululemon athletica. Please go ahead.

Howard Tubin

Thank you and good afternoon. Welcome to lululemon's first quarter earnings conference call. Joining me today to talk about our results are Calvin McDonald, CEO; and Meghan Frank, CFO.

Before we get started, I'd like to take this opportunity to remind you that our remarks today will include forward-looking statements reflecting management's current forecast of certain aspects of lululemon's future. These statements are based on current information, which we have assessed, but by which its nature is dynamic and subject to rapid and even abrupt changes. Actual results may differ materially from those contained in or implied by these forward-looking statements due to risks and uncertainties associated with our business, including those we have disclosed in our most recent filings with the SEC, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. Any forward-looking statements that we make on this call are based on assumptions as of today, and we expressly disclaim any obligation or undertaking to update or revise any of these statements as a result of new information or future events.

During this call, we will present GAAP and both non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in our quarterly report on Form 10-Q and in today's earnings press release. In addition, the comparable sales metrics given on today's call are on a constant dollar basis. The press release and accompanying quarterly report on Form 10-Q are available under the Investors section of our website at www.lululemon.com.

Before we begin the call, I'd like to remind our investors to visit our investor site, where you'll find a summary of our key financial and operating statistics for the first quarter as well as our quarterly infographic. Today's call is scheduled for one hour, so please limit yourself to one question at a time to give others the opportunity to have their questions addressed....

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