"We feel it was a really healthy growth season in a holiday where a lot of people were discounting and we stayed full price," Day said.
But she conceded that the athletic apparel retailer had trouble handling all the sales volume at some of its stores and had some issues with product notification – a part of its grassroots marketing strategy.
While consumers have become savvy shoppers and continually look for sales, Lululemon, which sells yoga pants for nearly $100, has no intention of playing that game, Day said. To compete, she said, Lululemon will have to do some original and bold things.
(Read More: Ho-Hum Holiday Retail Sales Miss Forecasts)
Day also pushed back against criticism that the company had expanded too quickly, telling CNBC that Lululemon has been cautious in its growth and it's only opening 30-35 stores a year.
Earlier this week, Lululemon said it anticipates fourth-quarter net revenues to be at the high end of the $475 million to $480 million range, with same-store sales rising in the high-single digits. Earnings are expected to come in at 74 cents a share, above its previous guidance of 71 to 73 cents per share.
-By CNBC's Justin Menza
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