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Lululemon Athletica Inc. Case Study

866 Words4 Pages

Lululemon Athletica Inc. is a retail company, designing and selling athletic apparel mainly in North America and Australia. The companies head office is located in Vancouver, Canada where their apparel is labelled under the name Lululemon athletica and Ivivva Athletica. Lululemon’s Executive Chairman and Chairman of the Board, Glenn Murphy, was appointed in April of 2017 in the place of Michael Casey. The former CEO, Laurent Potdevin, has stepped down from his title at the company after allegations of impropriate conduct. After three years of being Lululemon’s Vice President of Operations, Stuart Haselden is now the Chief Operating Officer. Vice President, Celeste Burgoyne, has been with the company since 2006 and now oversees all retail organization. The closest management to store-level operations are the directors, Robert Bensoussan and Michael Casey. Lululemon Athletica Inc. aims to keep their corporate structure as level as possible, ensuring departments like retail information, design and technology can easily communicate. Embedded in their corporate structure is …show more content…

has a group that ensures the legitimately of the company’s financial statements, The Audit Committee. Of course, the company is also evaluated externally by The Committee of Sponsoring Organizations of the Treadway Commission, also referred to as COSO. They are a company comprised of five private sector organizations who look to offer guidance in the development of risk management, internal control measures, and fraud deterrence in other companies. As of the audit done by COSO in 2015 up until the most current in 2017, Lululemon Athletica’s Inc. financial statements proved fair and accurate in all respects. In their report they state all the statements follow accounting principles stated under the Generally Accepted Accounting Practices of the United States of America and that there are effective internal controls in place over all financial reporting

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