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LULULEMON ATHLETICA INC.

(LULU)
  Report
Delayed Nasdaq  -  04:00 2022-11-29 pm EST
363.32 USD   +0.01%
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lululemon athletica : Brings MIRROR to Canada

10/07/2021 | 06:01am EST

Fast-growing interactive home gym lands in select lululemon stores for guest demonstrations

Available for purchase in-store and online beginning November 22

VANCOUVER, BC, Oct. 7, 2021 /CNW/ - lululemon athletica inc. (NASDAQ: LULU) announced today that MIRROR, its popular nearly invisible interactive home gym, will be offered in nearly 40 lululemon stores across Canada and available for purchase in-store and online beginning on November 22. Guests in Canada will now have direct access to engage with MIRROR's digital community and experience the platform's best-in-class content for all levels. This expansion in Canada will increase MIRROR's in-store presence to almost 200 lululemon locations in North America and help propel lululemon's vision to strengthen its community connection through the platform.

"Community is at the heart of lululemon—and bringing MIRROR to Canada will enable more guests to interact with our growing collective and experience a digital sweatlife offering like never before."

"Community is at the heart of lululemon—and bringing MIRROR to Canada will enable more guests to interact with our growing collective and experience a digital sweatlife offering like never before," said Celeste Burgoyne, President, Americas and Global Guest Innovation at lululemon. "We have seen rapid growth and strong engagement for MIRROR since launching in the United States and look forward to deepening our roots at home in Canada."

lululemon acquired MIRROR in July 2020 and the launch in Canada strengthens and enhances its omni guest experiences with cutting-edge digital and interactive capabilities. With best-in-class content and a versatile platform powered by advanced camera technology and a personal performance dashboard, MIRROR extends lululemon's digital sweat and mindful offerings and community engagement to new and existing Canadian guests.

MIRROR offers new live classes daily led by lululemon MIRROR Ambassadors – and thousands of on-demand workouts available 24/7 – including boxing, barre, cardio, strength, yoga, meditation and more, in addition to inclusive offerings for family and prenatal/postnatal. Certified trainers provide expert instruction, motivation and live feedback in classes spanning 50+ genres, ranging from 5- to 60-minute sessions for beginner to expert levels.

 The idea of connected community comes to fruition through MIRROR's features including:  

  • Camera On: Members can connect with friends in the MIRROR community to create an immersive sweat experience.
  • Face Offs: Members can compete one-on-one with friends in MIRROR classes. Points are earned when target heart rate zones are maintained.
  • High Fives: Members can send emojis to motivate friends in classes.
  • Friending: Members can find and follow friends in the MIRROR community.
  • Recommended for You: Members can receive a set of workouts each week based on their individual profile.

Guests are invited to experience MIRROR in-store and speak with a dedicated MIRROR Lead to receive a personalized demonstration. Starting November 22, MIRROR is expected to be available for purchase online and in Canadian lululemon stores. Guests interested in purchasing MIRROR are expected to have the opportunity to sign up for a limited time offer in-store from October 7 to November 21.  

For more information on MIRROR and its availability in Canada, please visit: https://shop.lululemon.com/story/mirror-home-gym

About lululemon athletica inc.

lululemon athletica inc. (NASDAQ: LULU) is a healthy lifestyle inspired athletic inspired athletic apparel company for yoga, running, training, and most other sweaty pursuits, creating transformational products and experiences which enable people to live a life they love. Setting the bar in technical fabrics and functional designs, lululemon works with yogis and athletes in local communities for continuous research and product feedback. For more information, visit LULULEMON.COM

About MIRROR

MIRROR is a nearly invisible, interactive home gym featuring live and on-demand fitness classes and personal training in a variety of workout genres. MIRROR is creating a new category of in-home fitness with cutting-edge hardware, responsive software, and best-in-class content that transforms any room into a complete home gym. For the first time, the essential components of a great studio workout – variety, personalization, and community – are brought to the most convenient place: the home. MIRROR was founded by Brynn Putnam, creator of Refine Method, named "New York's Smartest Workout." MIRROR is headquartered in New York City. https://mirror.co

Forward-looking Statements

This press release contains "forward-looking statements," which are statements related to future, not past, events. These statements often address our future business and financial performance and expected results and are based on our current expectations. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of risks and uncertainties we face. For example, our limited operating experience and limited MIRROR brand recognition in new international markets and new product categories may limit our expansion and cause our business and growth to suffer, we may not realize the potential benefits and synergies sought with the acquisition of MIRROR, and we may not be able to grow the MIRROR business and have it achieve profitability. Other risks and uncertainties are included in our most recent reports on Form 10-K and Form 10-Q, which we file with the SEC. All forward-looking statements speak only as of the date of this press release and we do not plan publicly to update these statements to reflect subsequent events or circumstances, except as may be required by law.

SOURCE lululemon athletica

© Canada Newswire, source Canada Newswire English

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Financials (USD)
Sales 2023 7 928 M - -
Net income 2023 1 263 M - -
Net cash 2023 1 045 M - -
P/E ratio 2023 36,2x
Yield 2023 -
Capitalization 46 326 M 46 326 M -
EV / Sales 2023 5,71x
EV / Sales 2024 4,94x
Nbr of Employees 29 000
Free-Float 88,1%
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Mean consensus OUTPERFORM
Number of Analysts 31
Last Close Price 363,32 $
Average target price 374,07 $
Spread / Average Target 2,96%
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Managers and Directors
Calvin R. McDonald Chief Executive Officer & Director
Meghan Frank Chief Financial Officer
Martha A. M. Morfitt Chairman
Julie Averill Chief Technology Officer
Shannon Higginson Chief Compliance Officer, General Counsel & SVP
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