VANCOUVER, BRITISH COLUMBIA, October 17 /CNW/ - lululemon athletica inc.
(NASDAQ: LULU; TSX: LLL) today announced that Michael Casey has been appointed
to its board of directors and will serve on the company's audit committee. The
company increased the size of the board of directors from eight to nine
members and appointed Mr. Casey to fill the newly-created vacancy.
Mr. Casey previously served as senior vice president and chief financial
officer of Starbucks from 1995 to September 30, 2007, and he continues to
serve as senior advisor to Starbucks. Prior to joining Starbucks, Mr. Casey
was executive vice president and chief financial officer for Family
Restaurants, Inc., and president and chief executive officer of El Torito
"Michael's extensive experience and insight in high growth retail
companies, particularly in the areas of audit, culture and governance, make
him a valuable addition to our board of directors," said Chip Wilson, chairman
and chief product designer at lululemon.
Mr. Casey is also a member of the board of directors of The Nasdaq Stock
Market, Inc. Mr. Casey graduated from Harvard College with a Bachelor's degree
in Economics and later returned to graduate school, where he earned his MBA
degree from Harvard Business School.
About lululemon athletica inc.
lululemon athletica (NASDAQ: LULU; TSX:LLL) is a yoga-inspired athletic
apparel company that creates components for people to live longer, healthier
and more fun lives. By producing products that keep people active and stress
free, lululemon believes that the world will be a better place. 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.
This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934 that involve risks, uncertainties and
assumptions, such as statements regarding our future financial condition or
results of operations, our prospects and strategies for future growth, the
development and introduction of new products, and the implementation of our
marketing and branding strategies. In many cases, you can identify
forward-looking statements by terms such as "may," "will," "should,"
"expects," "plans," "anticipates," "believes," "intends," "estimates,"
"predicts," "potential" or the negative of these terms or other comparable
terminology. These forward-looking statements are based on management's
current expectations but they involve a number of risks and uncertainties.
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, which include, without limitation: the possibility that we may
not be able to manage operations at our current size or manage growth
effectively; the possibility that we may not be able to locate suitable
locations to open new stores or attract customers to our stores; the
possibility that we may not be able to successfully expand in the United
States and other new markets; the possibility that we may not be able to
finance our growth and maintain sufficient levels of cash flow; increased
competition causing us to reduce the prices of our products or to increase
significantly our marketing efforts in order to avoid losing market share; the
possibility that we may not be able to effectively market and maintain a
positive brand image; the possibility that we may not be able to maintain
recent levels of comparable store sales or average sales per square foot; the
possibility that we may not be able to continually innovate and provide our
consumers with improved products; and the possibility that our suppliers or
manufacturers may not produce or deliver our products in a timely or
cost-effective manner; and other risk factors detailed in our filings with the
Securities and Exchange Commission ("the SEC"), including Risk Factors
contained in our final prospectus relating to our initial public offering
filed included in our Registration Statement on Form S-1 (file no. 333-142477)
filed with the Securities and Exchange Commission and available at
www.sec.gov. You are urged to consider these factors carefully in evaluating
the forward-looking statements herein and are cautioned not to place undue
reliance on such forward-looking statements, which are qualified in their
entirety by this cautionary statement. The forward-looking statements made
herein speak only as of the date of this press release and the company
undertakes no obligation to publicly update such forward-looking statements to
reflect subsequent events or circumstances.
For further information:
For further information: lululemon athletica inc. John Currie,
604-732-6124 Chief Financial Officer