Lululemon's CEO Defends Company on CNBC

The CEO of Lululemon Athletica LULU, Christine Day, spoke Wednesday on CNBC. She clarified her company's guidance situation, stating that they haven't issued a guidance for this year and probably won't until the March earnings call period. “We are not changing our policy,” Day said. She reiterated lululemon's commitment not to discount. Day admitted that the company had several missteps during the holiday season this past year, but they got through it. “If you don't discount, you need to take bold steps,” Day said. Day mentioned they didn't do as well as they could in handling sales volume, but comparable-store sales were up 13 percent. Also, their gift card sales were up. She felt they had a healthy growth season; where other stores were discounting, lululemon kept its prices high. When asked about the shareholder base, Day stated that much of the company was held by long-term shareholders, giving stability to the business. Shares of Lululemon Athletica were down 0.99 percent on Wednesday.