Earnings Per Share

6 Months Ended

Jul. 31, 2011

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 5.   EARNINGS PER SHARE

Following with the Stock Split, the Company retroactively adjusted EPS for the thirteen and twenty-six week periods ended July 31, 2011 and August 1, 2010 in accordance with ASC topic 260, Earnings Per Share (“ASC 260”). The details of the computation of basic and diluted earnings per share are as follows:

	Thirteen Weeks		Thirteen Weeks			Twenty-Six Weeks		Twenty-Six Weeks
	Ended July 31,		Ended August 1,			Ended July 31,		Ended August 1,
	2011		2010			2011		2010
Net income	$	38,618	$	21,707		$	72,134	$	41,295
Net income (loss) attributable to non-controlling interest	$	239	$	(85	)	$	383	$	(85	)
Net income attributable to lululemon athletica inc.	$	38,379	$	21,792		$	71,751	$	41,380
Basic weighted-average number of shares outstanding		143,163		141,640			142,961		141,416
Effect of stock options assume exercised		2,065		1,860			2,147		1,968
Diluted weighted-average number of shares outstanding		145,228		143,500			145,108		143,384
Net basic earnings per share	$	0.27	$	0.15		$	0.50	$	0.29
Net diluted earnings per share	$	0.26	$	0.15		$	0.49	$	0.29

The Company’s calculation of weighted-average shares includes the common stock of the Company as well as the exchangeable shares. Weighted-average shares for the thirteen and twenty-six weeks ended August 1, 2010 have been calculated as if the Stock Split was in effect at February 1, 2010. Exchangeable shares are the equivalent of common shares in all material respects. All classes of stock have in effect the same rights and share equally in undistributed net income. For the twenty-six weeks ended July 31, 2011 and August 1, 2010, 31 and 128 stock options, respectively, were anti-dilutive to earnings and therefore have been excluded from the computation of diluted earnings per share.