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1、ANNUAL REPORT 2024I am pleased with the results we delivered in 2024 and the progress we continue to make towards our enterprise goals.It was another year of growth for our company,steadied by our proven business strategy,commitment to long-term success,and strong balance sheet.As we begin 2025 and

2、navigate an increasingly complex macroeconomic environment,including evolving tariff and trade policies,I have the utmost confidence in our ability to remain agile,and maintain our innovative edge and strong guest relationships.We are grounded in our long-term perspective,and operate from a position

3、 of strength,with a range of levers to help us navigate in real time from our global,omni-channel sales mix to our strong margin,to our pricing power.Leading through unexpected times requires a level of clarity,focus,and agility across the organization.And our senior leaders have shown their ability

4、 to steer through adversity,while continuing to build our brand,and identify and pursue opportunities that emerge for lululemon.In 2024,we surpassed$10 billion in annual revenue for the first time,driven by growth across our merchandise categories,channels,and markets.Adjusted earnings per share inc

5、reased 15%1 year-over-year and we ended 2024 with$2.0 billion in cash and cash equivalents and no debt.This performance is a testament to our established strategic plan and builds on our momentum over the past five years,during which we have more than doubled our total revenue and expanded our fleet

6、 of company-operated stores by nearly 50%.I deeply appreciate and am grateful for the passion and commitment of our 39,000 employees around the world.It is their hard work and the incredible products and experiences they create for our guests and communities that will drive our business forward in t