Lululemon Athletica Earnings Call Insights: Back In Black and CEO Departure
Back In Black
Camilo Lyon – Canaccord Genuity: Christine or John, if you can talk about what you’ve seen over the last couple of weeks with the restocking of the Luon back on the shelves? Has there been a release of the pent-up demand? Does the consumer understand that they’re back – that you’re back in stock? What is really the message that you’re communicating to them about being in the greater in stock position over the coming few weeks as the quarter starts to re-depend?
Christine Day – CEO: We’re doing a soft launch kind of back in black as all the stores get fully up to speed and most importantly the e-commerce just really started to release its black stock this week. So, you’ll see us escalate the messages out and with an email and with some cute online things that will start happening towards the middle of the month.
Lindsay Drucker Mann – Goldman Sachs: Christine, I was hoping you could give a little bit more detail on the reasons for your departure, and also a little bit more color on thoughts of succession plan?
Christine Day – CEO: This was a personal decision of mine, and look it’s never perfect time to leave a company that you love. I’ve had a great run at lululemon over the past five and a half years and I’m really proud of what the team and I have accomplished. Now as the Company embarks really on that next 10 year vision, the timing is right to bring in a new person to lead and I have complete confidence in the succession planning process. We have also a great leadership team in place, and I really look forward to welcoming the new CEO.
A Closer Look: Lululemon Athletica Earnings Cheat Sheet>>