Lululemon Athletica Inc (LULU) Q3 2018 Earnings Conference Call Transcript

Joining me today to talk about our results are Calvin McDonald, CEO; Stuart Haselden, COO; PJ Guido, CFO; Sun Choe, our Chief Product Officer, is also with us and will be available during the Q&A portion of the call.

Bras also another important opportunity, the launch of Like Nothing, our fist bra designed to be worn all day has performed very well in the quarter and our collaboration with Francesca Hayward and the Royal Opera House in London is another example of how we successfully leveraged our relationships with cultural influencers relevant to our collective.

For an annual fee, members receive several benefits, including either a pant or pair of shorts designed exclusively for the program, access to Sweat Classes, attendance at curated events, personal development and free expedited shipping on e-commerce orders.

Before handing it over to Stuart, I'd like to conclude my prepared remarks by saying it is a distinct honor to work with such an extremely talented group of leaders, employees and educators, and it is their passion and dedication enthusiasm that fuels our strong performance and brings our brands to life each and every day.

I believe we will look back on 2018 as a milestone year for lululemon, where the culmination of our multi-year investments in supply chain, technology and innovation broadly have delivered an inflection in our business that has set us on a new trajectory.

These investments contributed to the 140 basis points of deleverage experience in the quarter and included technology enhancements, advancements and data and analytics, funding for new test initiatives, such as loyalty and self care, and a ramp up of seasonal store openings.

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