Exhibit 99.2
Segmented Information
Unaudited; Expressed in thousands
As reported in the Company's fiscal 2023 Annual Report on Form 10-K filed with the SEC on March 21, 2024, the Company changed its operating segments during the fourth quarter of fiscal 2023. The Company reports three segments: Americas, China Mainland, and Rest of World, which is Asia Pacific (“APAC”) and Europe and the Middle East (“EMEA”) on a combined basis. Previously, the Company's segments were based on selling channel. Please refer to Note 23. Segmented Information included in Item 8 in the Company's fiscal 2023 Annual Report on Form 10-K for further information.
The following table recasts the quarterly segment information for fiscal 2023 to reflect the current presentation:
Fiscal 2023 | ||||||||||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Total | ||||||||||||||||||||||||||||
Net revenue: | ||||||||||||||||||||||||||||||||
Americas | $ | 1,567,738 | $ | 1,719,773 | $ | 1,732,398 | $ | 2,611,738 | $ | 7,631,647 | ||||||||||||||||||||||
China Mainland | 210,068 | 234,445 | 228,595 | 290,652 | 963,760 | |||||||||||||||||||||||||||
Rest of World | 222,986 | 254,947 | 243,225 | 302,713 | 1,023,871 | |||||||||||||||||||||||||||
$ | 2,000,792 | $ | 2,209,165 | $ | 2,204,218 | $ | 3,205,103 | $ | 9,619,278 | |||||||||||||||||||||||
Segmented income from operations: | ||||||||||||||||||||||||||||||||
Americas | $ | 581,222 | $ | 660,570 | $ | 636,714 | $ | 1,058,678 | $ | 2,937,184 | ||||||||||||||||||||||
(Percentage of net revenue of respective operating segment) | 37.1 | % | 38.4 | % | 36.8 | % | 40.5 | % | 38.5 | % | ||||||||||||||||||||||
China Mainland | 73,885 | 83,481 | 76,792 | 103,158 | 337,316 | |||||||||||||||||||||||||||
(Percentage of net revenue of respective operating segment) | 35.2 | % | 35.6 | % | 33.6 | % | 35.5 | % | 35.0 | % | ||||||||||||||||||||||
Rest of World | 43,794 | 51,292 | 45,552 | 61,194 | 201,832 | |||||||||||||||||||||||||||
(Percentage of net revenue of respective operating segment) | 19.6 | % | 20.1 | % | 18.7 | % | 20.2 | % | 19.7 | % | ||||||||||||||||||||||
$ | 698,901 | $ | 795,343 | $ | 759,058 | $ | 1,223,030 | $ | 3,476,332 | |||||||||||||||||||||||
General corporate expenses | 295,609 | 314,207 | 321,480 | 309,140 | 1,240,436 | |||||||||||||||||||||||||||
lululemon Studio obsolescence provision | — | — | 23,709 | — | 23,709 | |||||||||||||||||||||||||||
Impairment of assets and restructuring costs | — | — | 74,501 | — | 74,501 | |||||||||||||||||||||||||||
Amortization of intangible assets | 1,878 | 1,879 | 1,253 | — | 5,010 | |||||||||||||||||||||||||||
Income from operations | $ | 401,414 | $ | 479,257 | $ | 338,115 | $ | 913,890 | $ | 2,132,676 |