lululemon athletica inc
For the period ended Oct 27, 2024. Filed Dec 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Oct 27, 2024 · Filed Dec 5, 2024
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Segmented Information
Note 12. Segmented Information
The Company's operating segments are based on the financial information the CODM, who is the Chief Executive Officer, uses to evaluate performance and allocate resources.
During the fourth quarter of 2023, the financial information the CODM regularly uses to evaluate performance and allocate resources was revised. As the Company further executed on its omni-channel retail strategy, and with the continued expansion of its international operations, the CODM has shifted resource allocation decisions to be focused by regional market, rather than by selling channel. This resulted in a change in the Company's operating segments.
Since January 28, 2024, the Company has reported three segments: Americas, China Mainland, and Rest of World, which is APAC and EMEA on a combined basis. The Company does not report capital expenditures and assets by segment as that information is not reviewed by the CODM. Previously, the Company's operating segments were comprised of company-operated stores, direct to consumer (or "e-commerce"), and other. The Company has recast the prior period information to reflect its new operating segments.
| Third Quarter | First Three Quarters | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| (In thousands) | ||||
| Net revenue: | ||||
| Americas | $1,770,382 | $1,732,398 | $5,134,079 | $5,019,909 |
| China Mainland | 318,338 | 228,595 | 936,313 | 673,108 |
| Rest of World | 307,940 | 243,225 | 906,237 | 721,158 |
| $2,396,660 | $2,204,218 | $6,976,629 | $6,414,175 | |
| Segmented income from operations: | ||||
| Americas | $654,939 | $636,714 | $1,889,206 | $1,878,506 |
| China Mainland | 110,600 | 76,792 | 349,463 | 234,158 |
| Rest of World | 68,762 | 45,552 | 209,443 | 140,638 |
| 834,301 | 759,058 | 2,448,112 | 2,253,302 | |
| General corporate expense | 342,522 | 321,480 | 983,465 | 931,296 |
| lululemon Studio obsolescence provision | — | 23,709 | — | 23,709 |
| Impairment of assets and restructuring costs | — | 74,501 | — | 74,501 |
| Amortization of intangible assets | 1,118 | 1,253 | 1,118 | 5,010 |
| Income from operations | 490,661 | 338,115 | 1,463,529 | 1,218,786 |
| Other income (expense), net | 13,743 | 9,842 | 55,020 | 25,229 |
| Income before income tax expense | $504,404 | $347,957 | $1,518,549 | $1,244,015 |
| Depreciation and amortization: | ||||
| Americas | $51,726 | $45,074 | $143,876 | $124,724 |
| China Mainland | 8,136 | 6,521 | 23,923 | 18,280 |
| Rest of World | 8,151 | 5,911 | 22,064 | 16,964 |
| Corporate | 45,586 | 40,463 | 123,068 | 116,126 |
| $113,599 | $97,969 | $312,931 | $276,094 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.