UPDATE: lululemon Responds to Statement by Whitney Tilson, Says Board is Aligned with Core Values

lululemon athletica inc.

(“lululemon”) today issued the following statement in response to a press release issued by Chip Wilson: The lululemon Board of Directors and management team have been consistently focused on enhancing shareholder value and will continue to take actions to achieve this objective. The Board's commitment to the value and reputation of the lululemon brand and the constant focus by the Board and management on the Company's mission and core values is critical to enhancing long-term shareholder value. The Board is overseeing lululemon's strategy to strengthen the Company's foundation, focus its product engine on innovation, and accelerate sustainable and controlled global expansion. By leveraging its design-led roots, strengthening its supply chain and providing an exceptional guest experience, we are confident that lululemon, under new CEO Laurent Potdevin's leadership, will provide guests with the high-quality, technical products they know and love and create value for shareholders. Contrary to Mr. Wilson's assertions, lululemon's Board members are aligned with the Company's core values and possess the necessary expertise to successfully lead lululemon forward.