Press release
lululemon athletica inc. Provides Update on China Operations
VANCOUVER, British Columbia--(BUSINESS WIRE)-- With the evolving dynamics related to the coronavirus outbreak in China, lululemon athletica inc.
About this update from Lululemon Athletica Inc.
[{"type":"text","content":" VANCOUVER, British Columbia--(BUSINESS WIRE)--\nWith the evolving dynamics related to the coronavirus outbreak in China, lululemon athletica inc. (NASDAQ:LULU) continues to work closely with local authorities to prioritize the safety of its people and guests in the region.\n\n\nFollowing guidance from local authorities, the majority of lululemon’s 38 stores in China have been closed for a period of time since February 3, 2020, with some now operating on a reduced schedule. The company’s online business has continued to operate.\n\n\n“We’re inspired by the resilience and commitment of our team in China as we navigate the emerging impacts of the coronavirus. The safety of our people is our highest priority, and we are adjusting store operations based upon the recommendations of local authorities,” said Calvin McDonald, Chief Executive Officer.\n\n\n“Despite the current disruption to our growing business in China, we remain confident in the long-term opportunities this market holds for lululemon,” McDonald added.\n\n\nThe company continues to monitor the situation and will provide an update on the financial and operational impact on its fourth quarter fiscal 2019 earnings call, to be held in late March.\n\n\nAbout lululemon athletica inc.\n\n\nlululemon athletica inc. (NASDAQ:LULU) is a healthy lifestyle 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 www.lululemon.com.\n\n\nForward-looking Statements \n\n\nThis press release includes estimates, projections, statements relating to our business plans, objectives, and expected operating results that are \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. In many cases, you can identify forward-looking statements by terms such as \"may,\" \"will,\" \"should,\" \"expects,\" \"plans,\" \"anticipates,\" \"outlook,\" \"believes,\" \"intends,\" \"estimates,\" \"predicts,\" \"potential\" or the negative of...