lululemon Continues to Expand Employee Benefits, Raising Minimum Base Pay

Rhea-AI Summary

lululemon athletica (NASDAQ:LULU) has announced an initiative to raise the minimum base pay for most of its store and Guest Education Centre employees in North America, effective September 27, 2021. Employees will receive a new minimum of $15 or $17 per hour based on their role and market conditions, alongside potential bonuses. The company plans to hire over 8,000 new team members for the holiday season. This reflects lululemon's commitment to supporting its employees with comprehensive benefits, including paid time off, mental health support, and various professional development programs.

Positive

• Minimum base pay for employees increased to $15-$17 per hour.
• Plans to hire over 8,000 team members in North America.
• Employees eligible for team-based bonuses up to $6/hour.
• Comprehensive benefits include mental health support and paid leave.

Negative

• None.

Initiative Builds on lululemon’s Commitment to Invest in its People

VANCOUVER, British Columbia--(BUSINESS WIRE)-- lululemon athletica inc. (NASDAQ:LULU) today announced a comprehensive overview of the Company’s approach to pay and benefits. Effective September 27, 2021, lululemon will raise the minimum base pay for the majority of its store and Guest Education Centre (GEC) employees in North America. As part of the additional investments, people who are currently employed, and individuals who are hired from this point forward, will receive a new minimum of $15 or $17 per hour depending on their role and the market. In addition, employees continue to be eligible for lululemon’s team-based bonus program, with the possibility to earn up to an additional $3 an hour on average, and up to $6 an hour, for store-based goals and results achieved.

As lululemon continues to grow and prepares for the holiday season, the Company will be hiring more than 8,000 team members in North America across its stores and GEC. These roles will include full and part-time Educator and Key Leader positions.

“At lululemon, continuing to support and invest in our people is our top priority,” said Celeste Burgoyne, President of the Americas & Global Guest Innovation. “Our Store and GEC teams are the heart of our business and are vital in helping to shape our innovative guest experience. We are thrilled to reach this important milestone, and we remain committed to attracting and building passionate teams as lululemon continues to scale and grow.”

Today’s announcement builds upon lululemon’s commitment to provide its employees with valuable offerings as the Company works toward a goal of becoming the number one place where people come to develop and grow as inclusive leaders. These offerings include but are not limited to:

• Time Off Work: Vacation time and paid sick leave for eligible employees, based on role and tenure, as well as sabbatical leaves at tenure marks for all full-time employees from educator to CEO.
• Mental Health and Health Benefits: Comprehensive health benefits program for eligible employees and dependents, including mental health offerings and support such as mental health first aid training, psychology benefits, an employee assistance program, and paid time off to promote wellbeing.
• Parenthood Program and Support Groups: Global gender-neutral parenthood program includes paid leave of up to six months for global employees at all levels based on tenure for maternity, paternity, and adoption leaves.
• Sweaty Pursuits and Employee Discount: Sweaty Pursuits program provides all employees with a monthly allocation of dollars to take fitness and meditation classes in their local communities, and an industry-leading employee discount program to enable employees to use lululemon products as they live the sweatlife.
• Employee Resource Groups: Eight employee-led resource groups unique to lululemon’s organizational needs that create spaces, avenues, and support for traditionally and historically underrepresented employees to connect, restore, and develop individually and as a community.
• Training and Development Programs: Mentorship and Leadership Series programming to help employees build their knowledge and skills to plan and grow their career.
• Professional Coaching: One-on-one coaching for employees to engage in a conscious and creative process that supports living into their personal and professional potential.
• IDEA (Inclusion, Diversity, Equity & Action) Internship: A new internship program that offers employees a 12-week skills and experience development program across different parts of lululemon’s business.

“We remain committed to investing in our people and will continue to update our holistic benefit offerings across the business on an ongoing basis. Our rewards strategy supports our employees, attracts strong talent, and recognizes exceptional performance,” said Susan Gelinas, SVP of People & Culture. “These base pay increases remain consistent with our top quartile rewards philosophy and align with our values to support and elevate our people. We’re proud to recognize their hard work, and we’re so grateful for all they have navigated over the last year and half during these unprecedented times.”

During the pandemic, lululemon prioritized supporting its teams through global pay protection and introduced expanded benefit offerings in North America including sick pay for all and spot bonuses to select frontline leaders. In addition, lululemon supported over 400 employees through its We Stand Together Fund for individuals facing COVID-19-related hardships.

About lululemon athletica inc.

lululemon athletica inc. (NASDAQ:LULU) 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

Forward-looking Statements

This press release contains “forward-looking statements,” which are statements related to future, not past, events. These statements often address our future business and financial performance and expected results and are based on our current expectations. 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 we face. For example, we may be unable to anticipate consumer preferences and successfully develop new, innovative, and differentiated products; our new products or technologies may not be accepted by our guests; or our competitors may introduce similar products in a timelier fashion. We also may not realize the potential benefits of our strategic collaborations or the market may have an adverse reaction to any of these arrangements. In addition, we may receive products or technologies from our strategic partners, suppliers or other commercial parties that fail to comply with our specifications or to conform to our quality control standards, or these parties may not comply with our standards or applicable laws or there may be negative publicity regarding their production methods. Other risks and uncertainties are included in our most recent reports on Form 10-K and Form 10-Q, which we file with the SEC. All forward-looking statements speak only as of the date of this press release and we do not plan publicly to update these statements to reflect subsequent events or circumstances, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210826005141/en/

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Source: lululemon athletica inc.

FAQ

What is the new minimum pay for lululemon employees in North America?

The new minimum base pay for lululemon employees is set at $15 or $17 per hour, depending on the role and market.

How many employees is lululemon planning to hire for the holiday season?

lululemon is planning to hire over 8,000 new employees across North America for the holiday season.

When will the new pay structure for lululemon employees take effect?

The new pay structure will take effect on September 27, 2021.

What additional benefits does lululemon provide to its employees?

lululemon offers various benefits, including vacation time, paid sick leave, mental health resources, and professional development programs.

What type of bonuses can lululemon employees earn?

Employees can earn team-based bonuses of up to $3 per hour on average and up to $6 per hour for achieving store-based goals.