Lululemon 2013 Annual Report Download - page 43

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Table of Contents
Inflation
Inflationary factors such as increases in the cost of our product and overhead costs may adversely affect our operating results. Although we
do not believe that inflation has had a material impact on our financial position or results of operations to date, a high rate of inflation in the
future may have an adverse effect on our ability to maintain current levels of gross margin and selling, general and administrative expenses as a
percentage of net revenue if the selling prices of our products do not increase with these increased costs.
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