May 31, 2018

lululemon Athletica inc. Announces First Quarter Fiscal 2018 Results

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Financial Highlight

Revenue up 25% to
$650 million

Comparable sales
increase 20%, or 19%
on a constant dollar basis

Diluted EPS of $0.55
for the first quarter

We are pleased with our continued strong results for the first quarter of 2018. This successful start to the year reaffirms our strategic priorities and I would like to thank our team for their passion and commitment to connecting with guests around the world.

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VANCOUVER, British Columbia —
lululemon athletica inc. (NASDAQ:LULU) today announced financial results for the first quarter ended April 29, 2018.

The summary below provides both GAAP and adjusted non-GAAP financial measures. In connection with the restructuring of its ivivva operations, the Company recognized pre-tax costs totaling $17.7 million in the first quarter of fiscal 2017.

For the first quarter ended April 29, 2018:

Net revenue was $649.7 million, an increase of 25% compared to the first quarter of fiscal 2017. On a constant dollar basis, net revenue increased 23%.

Total comparable sales increased 20%, or increased 19% on a constant dollar basis.

Gross profit was $344.7 million, an increase of 34% compared to the first quarter of fiscal 2017. Gross profit increased 31% compared to adjusted gross profit for the first quarter of fiscal 2017.

Gross margin was 53.1%, an increase of 370 basis points compared to the first quarter of fiscal 2017. Gross margin increased 270 basis points compared to adjusted gross margin for the first quarter of fiscal 2017.

Income from operations was $104.3 million, an increase of 130% compared to the first quarter of fiscal 2017. Income from operations increased 65% compared to adjusted income from operations for the first quarter of fiscal 2017.

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About Lululemon
Athletica Inc.

Lululemon Athletica Inc. 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

Contacts

Investors:

Lululemon Athletica inc.

Howard Tubin

ICR, Inc.

Joseph Teklits/Caitlin Morahan

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