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27 Apr

Calvin McDonad’s Pay Continues to Rise as Lululemon Strengthens

The spring in Lululemon Athletica Inc.’s step has been good for Calvin McDonald’s paycheck. 

The chief executive officer saw his total compensation rise 18.1 percent to $15.7 million last 12 months.

Many of the pay got here from stock and option awards that were valued at a complete of $10 million and link the chief’s fortunes to those of shareholders. His salary tallied $1.3 million. 

But McDonald also received incentive pay of $4.4 million — 200 percent of his goal and his maximum potential bonus for the 12 months. To hit that mark, Lululemon needed to see revenue of $7.5 billion and operating income of $1.7 billion for the 12 months. 

What the energetic brand turned in was adjusted revenues of $8.1 billion with operating income of $1.8 billion — a giant leap despite a $442.7 million charge to write down down the Mirror acquisition, which fell in need of expectations. 

The pay details were included along the corporate’s proxy statement, which was filed with the Securities and Exchange Commission ahead of the firm’s annual meeting on June 7.

McDonald has a great report to present to shareholders on the meeting.

In March, the CEO told analysts on a conference call that within the fourth quarter: “The adult energetic apparel industry decreased its U.S. revenue by 5 percent in comparison with the identical period last 12 months. And over this time period, Lululemon gained 2.3 points of market share within the U.S., essentially the most of any brand on this market based on NPD Group’s consumer tracking service. That is the very best quarterly market share gain we’ve achieved since we began tracking these numbers in 2020, and it caps a 12 months during which we grew our market share every quarter. This speaks to our growth within the U.S., a key market inside North America.”

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