Interviews
News Flash
lululemon plans to open 25 new stores in North America
11 Sep '07
4 min read
On August 2, 2007, the company completed an initial public offering of 20,930,000 shares of common stock at a price of $18.00 per share, of which 2,290,909 shares were sold by the company and 18,639,091 shares were sold by certain selling stockholders.
Upon completion of the offering, the company and the selling stockholders received net proceeds of approximately $31.8 million and $312.0 million, respectively. The company intends to use the net proceeds from the offering, together with cash flow from operations, to fund new store openings and working capital, and for other general corporate purposes, which may include general and administrative expenses and potential acquisitions of franchises.
Mr. Meers continued, "We are very pleased with the successful completion of our initial public offering, and looking ahead, we are excited about the prospects for our unique brand and retailing model. Our plan is to capitalize on our expansion opportunities, and we are committed to generating returns for our stockholders.”
Guidance:
For fiscal 2007, lululemon plans to open 25 new stores in North America, including the 8 new stores opened in the first two quarters. The Company is on plan to open the remaining 17 stores in the second half of fiscal 2007 and continues to expect 30 to 35 new store openings in fiscal 2008.
Based on results in the first half, the Company expects diluted EPS of $0.30 to $0.33 in fiscal year 2007 including $0.05 to $0.06 in our third quarter. We also expect comparable store sales in the mid to high-teen range for the full year. We anticipate diluted weighted average shares outstanding of approximately 70 million for 2007.
The Company's long-term annual financial targets include comparable store sales growth in the high-single digit range, net revenue growth of approximately 25% and diluted EPS growth in excess of 25%.
Upon completion of the offering, the company and the selling stockholders received net proceeds of approximately $31.8 million and $312.0 million, respectively. The company intends to use the net proceeds from the offering, together with cash flow from operations, to fund new store openings and working capital, and for other general corporate purposes, which may include general and administrative expenses and potential acquisitions of franchises.
Mr. Meers continued, "We are very pleased with the successful completion of our initial public offering, and looking ahead, we are excited about the prospects for our unique brand and retailing model. Our plan is to capitalize on our expansion opportunities, and we are committed to generating returns for our stockholders.”
Guidance:
For fiscal 2007, lululemon plans to open 25 new stores in North America, including the 8 new stores opened in the first two quarters. The Company is on plan to open the remaining 17 stores in the second half of fiscal 2007 and continues to expect 30 to 35 new store openings in fiscal 2008.
Based on results in the first half, the Company expects diluted EPS of $0.30 to $0.33 in fiscal year 2007 including $0.05 to $0.06 in our third quarter. We also expect comparable store sales in the mid to high-teen range for the full year. We anticipate diluted weighted average shares outstanding of approximately 70 million for 2007.
The Company's long-term annual financial targets include comparable store sales growth in the high-single digit range, net revenue growth of approximately 25% and diluted EPS growth in excess of 25%.
lululemon athletica inc
Popular News
Leave your Comments
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
