Lululemon Financial Report

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Lululemon Athletica Inc.: Financial Statement Analysis Prepared By: Monn Ung 0075435 James Jeffrey 0620758 Ana Hernandez 0617197 Kathleen Klaas 0617975 Jade Blackmore 0599079 Mike Ouellette 0116083 Prepared For: Warren Beck Accounting Research ACC 638 March 23, 2012 Lululemon Athletica Inc. - Financial Statement Analysis Introduction Lululemon Athletica, Inc. is a yoga-inspired athletic apparel company founded in 1998 by Chip Wilson whose previous years had been in the surfing, skating and snowboarding industry. It started after Wilson took his first yoga class and decided to create his own yoga studio. He came to realize that the kind of cotton clothing for yoga was inappropriate for this type of sweaty, stretchy and endurance exercise. This has led to the revelation of Lululemon. He then began to create the technical athletic fabrics which became the underground line of yoga wear. The new lines of apparel were tested by yoga instructors as their insights and feedback are the successes of this product and development. After the introducing Lululemon into the market, it has now became the brand recognition as the yoga athletic apparel whose “products are designed to offer performance, fit and comfort while incorporating both function and style” (Lululemon Atheletica, Inc., 2011). The first store was launched on a beach in Vancouver called Kitsilano in November 2000. The initial idea was to have the store become the “community hub” with a mission to provide people with components to live a longer, healthier and fun lifestyle. This promotion turned out to be a difficult concept to fulfill as the store became so busy that it was impossible to provide the customer care that was originally intended. The intention was to open only one store, but Lululemon became such a huge success with their brand name and image, that they further expanded into

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