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The decision to reopen pre-orders has been met with mixed reactions, with some praising Nintendo for giving fans a second chance to secure the Alarm Clock and others expressing disappointment over the inflated prices on the resale market. Many are calling for stricter measures to prevent scalpers from profiting off of limited edition releases and depriving genuine fans of the opportunity to purchase at retail price.
In conclusion, the A-share market's impressive performance on [Date] reflects the resilience and strength of the Chinese economy, as well as the confidence and enthusiasm of investors. The collective high opening and significant gains across the three major indexes signal a promising start to the trading day, setting the stage for a potentially bullish trend in the near future. Investors are advised to stay vigilant and monitor market developments closely as they navigate through the dynamic and ever-changing landscape of the A-share market.Anthem Blue Cross Blue Shield reverses decision to put a time limit on anesthesia
Conclusion:In conclusion, the upcoming Champions League match between Real Madrid and the Italian leader promises to be a thrilling encounter filled with drama, tension, and excitement. Both teams will be looking to assert their dominance and stake their claim as serious contenders for the coveted Champions League trophy. As the footballing world holds its breath in anticipation, all eyes will be on this clash of giants as they collide in the quest for European glory.Moreover, Sora is designed to be user-friendly and accessible, making it easy for content creators and designers to leverage its capabilities. The AI model comes with a user-friendly interface that allows users to input their desired parameters, such as the length of the video, the style and mood they want to convey, and any specific visual or audio elements they wish to include. Sora then uses this input to generate a customized video that meets the user's specifications.
Angela Merkel sounds alarm over Elon Musk’s potential power play in Trump’s second term: ‘A huge concern for us’5. "Realm of Shadows: Chronicles of Darkness"
In addition to boosting its stock price and attracting new investors, the company's shareholder benefits serve as a testament to its commitment to creating value for its stakeholders. By aligning the interests of shareholders with tangible benefits such as free mobile service, the company has demonstrated a willingness to go above and beyond traditional shareholder rewards, setting a new standard for corporate innovation in the financial sector.
Luke Wattenberg settling in as Broncos starting center: 'He's such a great communicator'
ASX’s CHESS program costs blow out furtherCHARLESTON, S.C., Dec. 05, 2024 (GLOBE NEWSWIRE) -- As the holiday season approaches, it’s the perfect time to focus on winter wellness and thoughtful gifting ideas for health-conscious entertaining. Renowned Registered Dietitian Nutritionist, Mia Syn shares her top recommendations to help people feel their best while enjoying all the season has to offer. COMBAT HOLIDAY CONGESTION “So many of us look forward to holiday parties and quality time with loved ones,” says Syn, “But we often find ourselves battling sinus congestion from dry air, cold weather, or seasonal allergies.” Her go-to solution? The NEW Mucinex® Sinus Saline Nasal Spray, the first-ever saline product featuring a 2-in-1 nozzle with customizable spray settings. Consumers can choose the ‘Power Jet’ to tackle tough nasal congestion or the ‘Gentle Mist’ to clear everyday congestion and soothe your nose. With its dual-nozzle technology, Mucinex® Sinus Saline Nasal Spray helps relieve congestion caused by allergens, irritants, and colds. Available at major retailers, pharmacies, and on Amazon, you can find your nearest store at Mucinex.com . Direct link: https://www.mucinex.com/ Social Media Handle: Facebook: @mucinex IG: @mucinex_us HOLIDAY TREATS WITH A HEALTHY TWIST Syn also encourages swapping ingredients in traditional holiday recipes with better-for-you alternatives. “One of my favorite holiday ingredients is Almond Breeze Almondmilk,” she shares. “Santa might even prefer Almond Breeze with his cookies this year!” jokes Syn. Direct link: www.AlmondBreeze.com Social Media Handle: Facebook: Almond Breeze Instagram: @AlmondBreeze Twitter: @AlmondBreeze SKINCARE MUST-HAVES FOR WINTER Cold, harsh air can wreak havoc on your skin, causing dryness and accentuating fine lines. "Nobody enjoys that itchy, uncomfortable feeling that winter brings," says Syn, a skincare enthusiast. "That’s why I turn to Mediheal—a trusted name in Korean skincare that’s been raising the bar for years." Mediheal’s toner pads have become a hit on social media, especially on TikTok, where users are swearing by their magic. Leading the charge are two fan-favorite products: "Mediheal’s toner pads are absolute game-changers," Syn adds. "They’re versatile, targeting multiple skin concerns, so there’s something for everyone." With a diverse lineup of toner pads and skincare products designed to tackle winter skin woes, Mediheal cements its place as the ultimate go-to for glowing, healthy skin—even in the harshest seasons. For a limited time, the Madecassoside Blemish Pad, Collagen Ampoule Pad and Vitamide Brightening Pad will be available in festive holiday packaging—perfect for gifting to loved ones or treating yourself this season! Direct link: Mediheal Amazon Website Social Media Handle: Facebook: @Mediheal US Instagram: @mediheal_us TikTok: @mediheal_us Twitter (X): @medihealus About YourUpdateTV: YourUpdateTV is a property of D S Simon Media. The video included and release was part of a media tour that was produced by D S Simon Media on behalf of Almond Breeze, Mediheal, and Mucinex. Media Contact: Michael O’Donnell D S Simon Media 212-736-2727 modonnell@dssimon.com A video accompanying this release is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/74283b19-564e-43c4-a467-440c7d109074
Title: Dragonze Huang's Victory Over the Defending Champion: Interview After the Game – Still Need to Learn How to Play, No Problem with Relegation, Persistence Pays Off in the EndAmazon's Global Sellers Summit Hits Nanjing, Marking a Milestone for the City's Development
Minister: UK courts would need to make decision on Netanyahu arrest warrant{ "@context": "https://schema.org", "@type": "NewsArticle", "dateCreated": "2024-12-05T21:59:14+02:00", "datePublished": "2024-12-05T21:59:14+02:00", "dateModified": "2024-12-05T22:24:26+02:00", "url": "https://www.newtimes.co.rw/article/22383/sports/football/1000-hills-derby-who-makes-the-cut-in-rayon-vs-apr-combined-xi", "headline": "1000 Hills derby: Who makes the cut in Rayon vs APR combined XI?", "description": "Amahoro Stadium is expected to be filled to full capacity on Saturday, December 7, when two Rwandan heavyweights, Rayon Sports and APR FC, resume their...", "keywords": "", "inLanguage": "en", "mainEntityOfPage":{ "@type": "WebPage", "@id": "https://www.newtimes.co.rw/article/22383/sports/football/1000-hills-derby-who-makes-the-cut-in-rayon-vs-apr-combined-xi" }, "thumbnailUrl": "https://www.newtimes.co.rw/thenewtimes/uploads/images/2024/12/05/65715.jpg", "image": { "@type": "ImageObject", "url": "https://www.newtimes.co.rw/thenewtimes/uploads/images/2024/12/05/65715.jpg" }, "articleBody": "Amahoro Stadium is expected to be filled to full capacity on Saturday, December 7, when two Rwandan heavyweights, Rayon Sports and APR FC, resume their rivalry in crunch Rwanda Premier League clash. The Rwandan derby was initially scheduled for September 14 before the league body postponed it to spare time for APR FC to prepare for the CAF Champions League. Rayon Sports have been in unstoppable form with nine wins in a row and are the only unbeaten team in the league so far this season. They lead the table with 29 points after 11 league games and are now 11 points clear of their fierce rivals who have played two games less. APR FC, on the other side, started the campaign on a wrong foot, but head coach Darko Novic has been working on fixing the loopholes in his squad and the team has started to gain momentum. Some players produced standout performances which have made a crucial impact on their respective teams' form. The likes of red-hot striker Fall Ngagne and Kevin Muhire have been so exceptional that they currently lead the top scoring and assist charts respectively in the league. APR, on the other hand, have been shy in front of goal but their defense, marshaled around Clement Niyigena, has been their strongest department. Stakes are high ahead of Saturday’s derby and Weekend Sport’s Edmund Okai Gyimah has picked his combined 11 from the two fierce rivals. Pavelh Ndzila (APR) The Congolese shot stopper has conceded just one goal in 9 league games so far this season and he has been vital to APR. Pavelh may not be that flamboyant in shot stopping but his ability to launch APR FC’s attack from the back with strong distribution skills and efficient range of passing is essential and it gives him the nod over Rayon’s Khadime Ndiaye. Omborenga Fitina (Rayon Sports) The experienced right back has been in good form so far this season with 3 assists to his name as the Blues lead the league table. His marauding runs down the right flank and his ability to whip in crosses makes him a standout player. Omborenga set up Olivier Niyonzima with a fine free kick in Blues’ 2-1 win over Muhazi United and it is something he has been doing consistently. ALSO READ: APR share spoils with Police FC in epic encounter Omborenga has flourished under returning head coach Ronertinho and his experience and longevity gives him an edge ahead of Gilbert Byiringiro who took over his place when he crossed over to Rayon from APR in July. Claude Niyomugabo (APR) The APR skipper struggled in club’s 1-1 draw with Police as he was skinned on the flanks by Peter Agblevor and substitute Elijah Ani. Niyomugabo has been efficient for APR in 8 of their last 9 games and he gets into our combined 11 ahead of Hakim Bugingo. ALSO READ: Niyonzima fires Rayon past Muhazi United Clement Niyigena (APR) Arguably the best central defender in the Rwanda Premier League, Niyigena has always been the rock at the back of APR. He defends, tackles and, above all, he is capable of scoring goals. Aimable Nsabimana (Rayon Sports) Nsabimana is very dangerous in the air and he also uses his size to great effect in 1 vs 1 situations. He already has a goal to his name so far this season and he is the main man in the Blues defense. On any day, he can be a nightmare for any of the strikers in the league. Nsabimana is no stranger to derbies, and it is good for him to prove his worth against his former employers. Taddeo Lwanga (APR) Lwanga has bossed APR midfield to perfection as he sits in front of the back four and does all the dirty work for the team. With APR missing Dauda in central midfield due to illness, the Uganda international has held his might, protecting the back four and the fact that the Lions have conceded just one goal this campaign justifies his work rate. Kevin Muhire (Rayon Sports) The Rayon captain has provided 8 assists in 10 games this season making him the highest assists provider. On his day, he majestically controls the tempo of the game and sets up Rayon's attacking football in motion. Jean Bosco Ruboneka (APR) Ruboneka is vital for APR due to his ability to play anywhere in midfield. He is also a set piece expert and has provided two assists so far this season. He is the engine of APR and the team revolves around him. If Ruboneka gets his day, the team performs well when he gets his day. Gilbert Mugisha (APR) The tricky winger is deadly on the left wing with his pace on artistry. Mugisha can torment any full back on any day with his pace and footwork. He has been one of the brightest spots in the APR tem this campaign. Against his former club, the winger must remind Robertinho what they miss from him. Hadji Iraguha (Rayon Sports) Iraguha has been in electric form for league leaders Rayon Sports and four goals in 10 games for a winger makes statistics worth laudable as it shows his quality. He makes things easy for the Blues as he always forges to get into the opponent penalty box to either score or assist. Fall Ngagne (Rayon Sports) A versatile centre forward who can drop back and hold up play, Ngagne has been key to the Rayon Sports unbeaten run. He has netted 6 goals in 10 league games and remains a major threat in front of the opponent’s post. Coach: Robertinho The wily Brazilian gaffer has brought life into Rayon Sports and they have shown that they are real title contenders. Under Robertinho, Rayon are unbeaten in 11 games as they have won 9 straight games and drawn twice. They have won all their games after draw with Marines and Amagaju in the first two league games of the season.", "author": { "@type": "Person", "name": "Edmund Okai Gyimah" }, "publisher": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/", "sameAs": ["https://www.facebook.com/TheNewTimesRwanda/","https://twitter.com/NewTimesRwanda","https://www.youtube.com/channel/UCuZbZj6DF9zWXpdZVceDZkg"], "logo": { "@type": "ImageObject", "url": "/theme_newtimes/images/logo.png", "width": 270, "height": 57 } }, "copyrightHolder": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/" } }
The specifics of the power transfer process remain unclear, but it is expected that a transitional government will be established to oversee the country's affairs until free and fair elections can be held. The Russian government has pledged to support this transition process and work with international partners to ensure a smooth and peaceful handover of power.By Alan Baldwin (Reuters) -General Motors plans to enter Formula One with its Cadillac brand in 2026 after announcing on Monday an agreement in principle with the Liberty Media-owned sport. Hailing a landmark move to become the 11th team on the starting grid, the carmaker said it had also registered with the governing FIA as a power unit manufacturer to become a full works outfit by the end of the decade. They will be the first new team since U.S.-owned Haas debuted in 2016 and GM the sixth engine maker after Audi, Ferrari, Honda, Mercedes and Red Bull/Ford. GM will partner with TWG Global and Mario Andretti — the last U.S. world champion in 1978 — will serve as a director on the team’s board. “My first love was Formula One and now, 70 years later, the F1 paddock is still my happy place,” said Andretti in a Cadillac statement. “To still be involved at this stage of my life; I have to pinch myself to make sure I’m not dreaming.” General Motors bosses were at the Las Vegas Grand Prix last weekend to put the seal on a project that was rejected by Formula One last January despite FIA approval. “With Formula One’s continued growth plans in the U.S., we have always believed that welcoming an impressive U.S. brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport,” said Liberty Media’s outgoing CEO Greg Maffei. “We credit the leadership of General Motors and their partners with significant progress in their readiness to enter Formula One. “We are excited to move forward with the application process for the GM/Cadillac team to enter the Championship in 2026.” FIA SUPPORT FIA President Mohammed Ben Sulayem, who was an early backer of an Andretti bid and has continued to push behind the scenes to get a deal over the line, expressed full support for the latest development. “All parties, including the FIA, will continue to work together to ensure the process progresses smoothly,” he said in a statement. An investigation by the U.S. House of Representatives Judiciary Committee into possible ‘anticompetitive conduct’ also concentrated minds and changed the dialogue, sources said. Formula One had said in January it doubted the original Andretti bid would be competitive or add value but kept a door open for 2028 when partner General Motors could provide an engine. That bid was presented as an Andretti Cadillac entry, with Andretti Global led by Mario’s son Michael — a former F1 racer and 1991 CART champion who was seen by some as a more confrontational figure. Michael Andretti has since taken a step back from his day-to-day operational role and handed over to Dan Towriss, the CEO of TWG Global which owns and operates Andretti Global. The BBC separately quoted senior sources as saying GM and TWG will pay an anti-dilution fee, split between the 10 existing teams, of $450m to secure the entry. The current fee is 200 million, but new rules will apply from 2026. GM will also need to buy in an engine for 2026 and 2027, with Ferrari seen as a leading candidate given that they will have a spare supply when Sauber become Audi. “This is a global stage for us to demonstrate GM’s engineering expertise and technology leadership at an entirely new level,” said GM president Mark Reuss. Cadillac has already assembled a team to work on aerodynamics, chassis and component development, software, and vehicle dynamics simulation. Andretti also has a base at Silverstone in England with a number of personnel employed, including former F1 chief technical officer Pat Symonds as executive engineering consultant (Additional reporting by Tommy Lund in Gdansk; Editing by Alex Richardson and Ken Ferris and Pritha Sarkar) Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content. var ytflag = 0;var myListener = function() {document.removeEventListener('mousemove', myListener, false);lazyloadmyframes();};document.addEventListener('mousemove', myListener, false);window.addEventListener('scroll', function() {if (ytflag == 0) {lazyloadmyframes();ytflag = 1;}});function lazyloadmyframes() {var ytv = document.getElementsByClassName("klazyiframe");for (var i = 0; i < ytv.length; i++) {ytv[i].src = ytv[i].getAttribute('data-src');}} Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );
3 fantastic ASX ETFs to buy in JanuaryTitle: Three Major Stock Indexes Opened Higher Together, ChiNext Index Surged by 4.88%, A-Share Market Soared
Rachel Reeves vows NO more tax rises after Labour’s bruising £40bn budget raid
VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec 5, 2024-- lululemon athletica inc. (NASDAQ:LULU) today announced financial results for the third quarter of fiscal 2024, which ended on October 27, 2024. Calvin McDonald, Chief Executive Officer, stated: "Our performance in the third quarter shows the enduring strength of lululemon globally, as we saw continued momentum across our international markets and in Canada. Looking to the future, we are pleased with the start to our holiday season, and we remain focused on accelerating our U.S. business and growing our brand awareness around the world. Thank you to our dedicated teams for continuing to deliver for our guests and stakeholders." The adjusted non-GAAP financial measures below exclude asset impairment and other charges recognized in relation to lululemon Studio during the third quarter of 2023, and the related income tax effects of these items. For the third quarter of 2024, compared to the third quarter of 2023: Meghan Frank, Chief Financial Officer, stated: "Our third quarter results, which exceeded our expectations, demonstrate the ability of our teams to be agile in a dynamic operating environment. With the majority of the fourth quarter still in front of us, we are focused on deepening engagement with our guests and bringing new consumers into the brand. We are committed to delivering on our Power of Three ×2 revenue target of $12.5 billion in 2026 and look forward to all that lies ahead." Stock Repurchase Program During the third quarter of 2024, the Company repurchased 1.6 million shares of its common stock for a cost of $408.5 million. On December 3, 2024, the board of directors approved a $1.0 billion increase to the Company's stock repurchase program. Including this increase, as of December 5, 2024, the Company had approximately $1.8 billion remaining authorized on its stock repurchase program. Balance Sheet Highlights The Company ended the third quarter of 2024 with $1.2 billion in cash and cash equivalents and the capacity under its committed revolving credit facility was $393.5 million. Inventories at the end of the third quarter of 2024 increased 8% to $1.8 billion compared to $1.7 billion at the end of the third quarter of 2023. 2024 Outlook For the fourth quarter of 2024, the Company expects net revenue to be in the range of $3.475 billion to $3.510 billion, representing growth of 8% to 10%, or 3% to 4% excluding the 53rd week of 2024. Diluted earnings per share are expected to be in the range of $5.56 to $5.64 for the quarter. This assumes a tax rate of approximately 29.5%. For 2024, the Company now expects net revenue to be in the range of $10.452 billion to $10.487 billion, representing growth of 9%, or 7% excluding the 53rd week of 2024. Diluted earnings per share are now expected to be in the range of $14.08 to $14.16 for the year. This assumes a tax rate of approximately 30%. The guidance does not reflect potential future repurchases of the Company's shares. The guidance and outlook forward-looking statements made in this press release are based on management's expectations as of the date of this press release and do not incorporate future unknown impacts, including macroeconomic trends. The Company undertakes no duty to update or to continue to provide information with respect to any forward-looking statements or risk factors, whether as a result of new information or future events or circumstances or otherwise. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of risks and uncertainties, including those stated below. Power of Three ×2 The Company's Power of Three ×2 growth plan calls for a doubling of the business from 2021 net revenue of $6.25 billion to $12.5 billion by 2026. The key pillars of the plan are product innovation, guest experience, and market expansion. Conference Call Information A conference call to discuss third quarter results is scheduled for today, December 5, 2024, at 4:30 p.m. Eastern time. Those interested in participating in the call are invited to dial 1-844-763-8274 or 1-647-484-8814, if calling internationally, approximately 10 minutes prior to the start of the call. A live webcast of the conference call will be available online at: https://corporate.lululemon.com/investors/news-and-events/events-and-presentations . A replay will be made available online approximately two hours following the live call for a period of 30 days. About lululemon athletica inc. lululemon athletica inc. (NASDAQ:LULU) is a technical athletic apparel, footwear, and accessories company for yoga, running, training, and most other activities, creating transformational products and experiences that build meaningful connections, unlocking greater possibility and wellbeing for all. Setting the bar in innovation of fabrics and functional designs, lululemon works with yogis and athletes in local communities around the world for continuous research and product feedback. For more information, visit lululemon.com . Non-GAAP Financial Measures Constant dollar changes and adjusted financial results are non-GAAP financial measures. A constant dollar basis assumes the average foreign currency exchange rates for the period remained constant with the average foreign currency exchange rates for the same period of the prior year. The Company provides constant dollar changes in its results to help investors understand the underlying growth rate of net revenue excluding the impact of changes in foreign currency exchange rates. Adjusted gross profit, gross margin, income from operations, operating margin, income tax expense, effective tax rates, net income, and diluted earnings per share exclude certain inventory provisions, asset impairments, and restructuring costs recognized in relation to lululemon Studio, and the related income tax effects of these items. The Company believes these adjusted financial measures are useful to investors as they provide supplemental information that enable evaluation of the underlying trend in its operating performance, and enable a comparison to its historical financial information. Further, due to the finite and discrete nature of these items, it does not consider them to be normal operating expenses that are necessary to run the business, or impairments or disposal gains that are expected to arise in the normal course of its operations. Management uses these adjusted financial measures and constant currency metrics internally when reviewing and assessing financial performance. The Company's fiscal year ends on the Sunday closest to January 31st of the following year, typically resulting in a 52-week year, but occasionally giving rise to an additional week, resulting in a 53-week year. Fiscal 2023 was a 52-week year while 2024 will be a 53-week year. The expected net revenue increase excluding the 53rd week excludes the expected net revenue for the 53rd week of 2024. This enables an evaluation of the expected year-over-year increase in net revenue based on 52 weeks in each year. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or with greater prominence to, the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the section captioned "Reconciliation of Non-GAAP Financial Measures" included in the accompanying financial tables, which includes more detail on the GAAP financial measure that is most directly comparable to each non-GAAP financial measure, and the related reconciliations between these financial measures. The Company's non-GAAP financial measures may be calculated differently from, and therefore may not be directly comparable to, similarly titled measures reported by other companies. Forward-Looking Statements: This press release includes estimates, projections, statements relating to the Company's 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 these terms or other comparable terminology. These forward-looking statements also include the Company's guidance and outlook statements. These 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 Company's ability to maintain the value and reputation of its brand; changes in consumer shopping preferences and shifts in distribution channels; the acceptability of its products to guests; its highly competitive market and increasing competition; increasing costs and decreasing selling prices; its ability to anticipate consumer preferences and successfully develop and introduce new, innovative and updated products; its ability to accurately forecast guest demand for its products; its ability to expand in light of its limited operating experience and limited brand recognition in new international markets and new product categories; its ability to manage its growth and the increased complexity of its business effectively; its ability to successfully open new store locations in a timely manner; seasonality; disruptions of its supply chain; its reliance on a relatively small number of vendors to supply and manufacture a significant portion of its products; suppliers or manufacturers not complying with its Vendor Code of Ethics or applicable laws; its ability to deliver its products to the market and to meet guest expectations if it has problems with its distribution system; increasing labor costs and other factors associated with the production of its products in South Asia and South East Asia; its ability to safeguard against security breaches with respect to its technology systems; its compliance with privacy and data protection laws; any material disruption of its information systems; its ability to have technology-based systems function effectively and grow its e-commerce business globally; climate change, and related legislative and regulatory responses; increased scrutiny regarding its environmental, social, and governance, or sustainability responsibilities; an economic recession, depression, or downturn or economic uncertainty in its key markets; global or regional health events such as the COVID-19 pandemic and related government, private sector, and individual consumer responsive actions; global economic and political conditions; its ability to source and sell its merchandise profitably or at all if new trade restrictions are imposed or existing trade restrictions become more burdensome; changes in tax laws or unanticipated tax liabilities; its ability to comply with trade and other regulations; fluctuations in foreign currency exchange rates; imitation by its competitors; its ability to protect its intellectual property rights; conflicting trademarks and patents and the prevention of sale of certain products; its exposure to various types of litigation; and other risks and uncertainties set out in filings made from time to time with the United States Securities and Exchange Commission and available at www.sec.gov , including, without limitation, its most recent reports on Form 10-K and Form 10-Q. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. 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, except as may be required by law. lululemon athletica inc. The fiscal year ending February 2, 2025 is referred to as "2024" and the fiscal year ended January 28, 2024 is referred to as "2023". Condensed Consolidated Statements of Operations Unaudited; Expressed in thousands, except per share amounts Third Quarter First Three Quarters 2024 2023 2024 2023 Net revenue $ 2,396,660 $ 2,204,218 $ 6,976,629 $ 6,414,175 Costs of goods sold 995,054 947,554 2,887,770 2,708,195 Gross profit 1,401,606 1,256,664 4,088,859 3,705,980 As a percentage of net revenue 58.5 % 57.0 % 58.6 % 57.8 % Selling, general and administrative expenses 909,827 842,795 2,624,212 2,407,683 As a percentage of net revenue 38.0 % 38.2 % 37.6 % 37.5 % 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 As a percentage of net revenue 20.5 % 15.3 % 21.0 % 19.0 % 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 Income tax expense 152,534 99,243 452,336 363,293 Net income $ 351,870 $ 248,714 $ 1,066,213 $ 880,722 Basic earnings per share $ 2.87 $ 1.97 $ 8.57 $ 6.94 Diluted earnings per share $ 2.87 $ 1.96 $ 8.55 $ 6.92 Basic weighted-average shares outstanding 122,697 126,460 124,471 126,892 Diluted weighted-average shares outstanding 122,803 126,770 124,668 127,218 lululemon athletica inc. Condensed Consolidated Balance Sheets Unaudited; Expressed in thousands October 27, 2024 January 28, 2024 October 29, 2023 ASSETS Current assets Cash and cash equivalents $ 1,188,419 $ 2,243,971 $ 1,091,138 Inventories 1,800,893 1,323,602 1,663,617 Prepaid and receivable income taxes 257,388 183,733 300,258 Other current assets 358,589 309,271 309,886 Total current assets 3,605,289 4,060,577 3,364,899 Property and equipment, net 1,697,759 1,545,811 1,413,918 Right-of-use lease assets 1,360,589 1,265,610 1,048,607 Goodwill and intangible assets, net 178,185 24,083 23,912 Deferred income taxes and other non-current assets 241,847 195,860 170,928 Total assets $ 7,083,669 $ 7,091,941 $ 6,022,264 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 385,960 $ 348,441 $ 309,324 Accrued liabilities and other 561,615 348,555 392,949 Accrued compensation and related expenses 190,169 326,110 250,479 Current lease liabilities 290,368 249,270 217,138 Current income taxes payable 96,808 12,098 27,231 Unredeemed gift card liability 238,327 306,479 213,256 Other current liabilities 40,286 40,308 37,737 Total current liabilities 1,803,533 1,631,261 1,448,114 Non-current lease liabilities 1,223,733 1,154,012 950,954 Non-current income taxes payable — 15,864 15,864 Deferred income tax liability 33,231 29,522 53,833 Other non-current liabilities 37,440 29,201 27,650 Stockholders' equity 3,985,732 4,232,081 3,525,849 Total liabilities and stockholders' equity $ 7,083,669 $ 7,091,941 $ 6,022,264 lululemon athletica inc. Condensed Consolidated Statements of Cash Flows Unaudited; Expressed in thousands First Three Quarters 2024 2023 Cash flows from operating activities Net income $ 1,066,213 $ 880,722 Adjustments to reconcile net income to net cash provided by operating activities (194,890 ) 31,344 Net cash provided by operating activities 871,323 912,066 Net cash used in investing activities (575,214 ) (445,325 ) Net cash used in financing activities (1,328,510 ) (510,583 ) Effect of foreign currency exchange rate changes on cash and cash equivalents (23,151 ) (19,887 ) Decrease in cash and cash equivalents (1,055,552 ) (63,729 ) Cash and cash equivalents, beginning of period 2,243,971 1,154,867 Cash and cash equivalents, end of period $ 1,188,419 $ 1,091,138 lululemon athletica inc. Reconciliation of Non-GAAP Financial Measures Unaudited; Expressed in thousands, except per share amounts Constant dollar changes The below changes show the change for the third quarter of 2024 compared to the third quarter of 2023. Net Revenue Change Foreign exchange Change in constant dollars United States — % — % — % Canada 9 — 9 Mexico (1) n/a n/a n/a Americas 2 — 2 China Mainland 39 (3 ) 36 Rest of World 27 (4 ) 23 Total international 33 (3 ) 30 Total 9 % (1 )% 8 % Comparable Sales (2) Change Foreign exchange Change in constant dollars Americas (2 )% — % (2 )% China Mainland 27 (3 ) 24 Rest of World 23 (3 ) 20 Total international 25 (3 ) 22 Total 4 % (1 )% 3 % (1) On September 10, 2024, the Company acquired the lululemon branded retail locations and operations run by a third party in Mexico. Wholesale sales to the third party by lululemon athletica canada inc. prior to the acquisition are disclosed as net revenue recognized within Canada. (2) Comparable sales includes comparable company-operated store and e-commerce net revenue. Comparable company-operated stores have been open for at least 12 full fiscal months, or open for at least 12 full fiscal months after being significantly expanded. Comparable company-operated stores exclude stores which have been temporarily relocated for renovations or have been temporarily closed. Adjusted financial measures The following tables reconcile adjusted 2023 financial measures with the most directly comparable measures calculated in accordance with GAAP. The adjustments relate to certain inventory provisions, asset impairments, and restructuring costs recognized in relation to lululemon Studio and their related tax effects. Please refer to Note 4. Impairment of Assets and Restructuring Costs included in Item 1 of Part I of the Company's Report on Form 10-Q to be filed with the SEC on or about December 5, 2024 for further information on the nature of these amounts. Third Quarter 2023 Gross Profit Gross Margin Income from Operations Operating Margin Income Tax Expense Effective Tax Rate Net Income Diluted Earnings Per Share GAAP results $ 1,256,664 57.0 % $ 338,115 15.3 % $ 99,243 28.5 % $ 248,714 $ 1.96 lululemon Studio charges: lululemon Studio obsolescence provision 23,709 1.1 23,709 1.1 23,709 0.19 Impairment of assets 44,186 2.0 44,186 0.35 Restructuring costs 30,315 1.4 30,315 0.24 Tax effect of the above 26,085 (0.4 ) (26,085 ) (0.21 ) 23,709 1.1 98,210 4.5 26,085 (0.4 ) 72,125 0.57 Adjusted results (non-GAAP) $ 1,280,373 58.1 % $ 436,325 19.8 % $ 125,328 28.1 % $ 320,839 $ 2.53 First Three Quarters 2023 Gross Profit Gross Margin Income from Operations Operating Margin Income Tax Expense Effective Tax Rate Net Income Diluted Earnings Per Share GAAP results $ 3,705,980 57.8 % $ 1,218,786 19.0 % $ 363,293 29.2 % $ 880,722 $ 6.92 lululemon Studio charges: lululemon Studio obsolescence provision 23,709 0.3 23,709 0.3 23,709 0.19 Impairment of assets 44,186 0.7 44,186 0.35 Restructuring costs 30,315 0.5 30,315 0.24 Tax effect of the above 26,085 (0.2 ) (26,085 ) (0.21 ) 23,709 0.3 98,210 1.5 26,085 (0.2 ) 72,125 0.57 Adjusted results (non-GAAP) $ 3,729,689 58.1 % $ 1,316,996 20.5 % $ 389,378 29.0 % $ 952,847 $ 7.49 Expected net revenue increase excluding the 53rd week The Company's fiscal year ends on the Sunday closest to January 31st of the following year, typically resulting in a 52-week year, but occasionally giving rise to an additional week, resulting in a 53-week year. Fiscal 2023 was a 52-week year while 2024 will be a 53-week year. Fourth Quarter 2024 Fiscal 2024 Expected net revenue increase 8% to 10% 9% Impact of 53rd week (5)% to (6)% (2)% Expected net revenue increase excluding the 53rd week (non-GAAP) 3% to 4% 7% lululemon athletica inc. Company-operated Store Count and Square Footage (1) Square footage expressed in thousands Number of Stores Open at the Beginning of the Quarter Number of Stores Opened During the Quarter Number of Stores Closed During the Quarter Number of Stores Open at the End of the Quarter 4 th Quarter 2023 686 26 1 711 1 st Quarter 2024 711 5 5 711 2 nd Quarter 2024 711 11 1 721 3 rd Quarter 2024 721 28 — 749 Total Gross Square Feet at the Beginning of the Quarter Gross Square Feet Added During the Quarter (2) Gross Square Feet Lost During the Quarter (2) Total Gross Square Feet at the End of the Quarter 4 th Quarter 2023 2,797 173 3 2,967 1 st Quarter 2024 2,967 35 14 2,988 2 nd Quarter 2024 2,988 90 3 3,075 3 rd Quarter 2024 3,075 156 — 3,231 (1) (2) View source version on businesswire.com : https://www.businesswire.com/news/home/20241205433612/en/ CONTACT: Investor Contacts: lululemon athletica inc. Howard Tubin 1-604-732-6124 or ICR, Inc. Joseph Teklits/Caitlin Churchill 1-203-682-8200 Media Contact: lululemon athletica inc. Madi Wallace 1-604-732-6124 KEYWORD: NORTH AMERICA CANADA INDUSTRY KEYWORD: FASHION ONLINE RETAIL RETAIL HEALTH OTHER RETAIL FITNESS & NUTRITION SPECIALTY SOURCE: lululemon athletica inc. Copyright Business Wire 2024. PUB: 12/05/2024 04:05 PM/DISC: 12/05/2024 04:06 PM http://www.businesswire.com/news/home/20241205433612/en
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