OpenNashEarnings

Consumer Brands · Nasdaq: LULU

Lululemon earnings: results, call transcripts & KPI history

2 quarters · fiscal year ends January · next results expected around 10 Dec 2026

Investor relations ↗SEC filings ↗KPIs as CSV

Latest: Q2 FY2026

Revenue decreased 4% to $2.4 billion, or decreased 5% on a constant dollar basis, with comparable sales down 9% and diluted EPS of $2.92.

Lululemon's second-quarter revenue fell 4% to $2.4 billion, and comparable sales fell 9%. The Americas were weak, with revenue down 8% and comparable sales down 12%. International revenue rose 4%. Gross margin rose to 60.5%, helped by $134.5 million of tariff refunds. Operating income fell 13% to $453.7 million and diluted EPS was $2.92, down from $3.10. The company repurchased 2.7 million shares for $330.0 million.

Read the Q2 FY2026 summary →

Quarters

KPI history

Revenue$2.4B−4.3% y/yQ2 FY26
Q3 FY24: $2.4BQ3 24$2.4BQ4 FY24: $3.6B (worked out from the annual figure)Q4 24$3.6BQ1 FY25: $2.4BQ1 25$2.4BQ2 FY25: $2.5BQ2 25$2.5BQ3 FY25: $2.6BQ3 25$2.6BQ4 FY25: $3.6B (worked out from the annual figure)Q4 25$3.6BQ1 FY26: $2.5BQ1 26$2.5BQ2 FY26: $2.4BQ2 26$2.4B

Fourth quarter worked out from the annual figure.

Data
Q3 FY24$2.4B
Q4 FY24$3.6B *
Q1 FY25$2.4B
Q2 FY25$2.5B
Q3 FY25$2.6B
Q4 FY25$3.6B *
Q1 FY26$2.5B
Q2 FY26$2.4B
Diluted EPS (GAAP)$2.92−5.8% y/yQ2 FY26
Q3 FY24: $2.87Q3 24$2.87Q1 FY25: $2.60Q1 25$2.60Q2 FY25: $3.10Q2 25$3.10Q3 FY25: $2.59Q3 25$2.59Q1 FY26: $1.69Q1 26$1.69Q2 FY26: $2.92Q2 26$2.92
Data
Q3 FY24$2.87
Q1 FY25$2.60
Q2 FY25$3.10
Q3 FY25$2.59
Q1 FY26$1.69
Q2 FY26$2.92

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin18.8%−1.9 pts y/yQ2 FY26
Q3 FY24: 20.5%Q3 2420.5%Q4 FY24: 28.9%Q4 2428.9%Q1 FY25: 18.5%Q1 2518.5%Q2 FY25: 20.7%Q2 2520.7%Q3 FY25: 17.0%Q3 2517.0%Q4 FY25: 22.3%Q4 2522.3%Q1 FY26: 11.2%Q1 2611.2%Q2 FY26: 18.8%Q2 2618.8%
Data
Q3 FY2420.5%
Q4 FY2428.9%
Q1 FY2518.5%
Q2 FY2520.7%
Q3 FY2517.0%
Q4 FY2522.3%
Q1 FY2611.2%
Q2 FY2618.8%
Free cash flow$225.2M+49.3% y/yQ2 FY26
Q3 FY24: $122.2MQ3 24$122.2MQ4 FY24: $1.2BQ4 24$1.2BQ1 FY25: -$271.2MQ1 25-$271.2MQ2 FY25: $150.8MQ2 25$150.8MQ3 FY25: $82.4MQ3 25$82.4MQ4 FY25: $959.7MQ4 25$959.7MQ1 FY26: $87.1MQ1 26$87.1MQ2 FY26: $225.2MQ2 26$225.2M
Data
Q3 FY24$122.2M
Q4 FY24$1.2B
Q1 FY25-$271.2M
Q2 FY25$150.8M
Q3 FY25$82.4M
Q4 FY25$959.7M
Q1 FY26$87.1M
Q2 FY26$225.2M

Operating cash flow minus capital expenditure, from cash flow statements.

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Revenue$2.4B$3.6Bd$2.4B$2.5B$2.6B$3.6Bd$2.5B$2.4B
Gross margin58.5%60.4%58.3%58.5%55.6%54.9%54.2%60.5%
Operating income$490.7M$1.0Bd$438.6M$523.8M$435.9M$812.3Md$276.9M$453.7M
Operating margin20.5%28.9%18.5%20.7%17.0%22.3%11.2%18.8%
Net income$351.9M$748.4Md$314.6M$370.9M$306.8M$586.9Md$195.0M$329.2M
Diluted EPS$2.87—$2.60$3.10$2.59—$1.69$2.92
Operating cash flow$300.7Md$1.4Bd-$119.0M$328.7Md$249.9Md$1.1Bd$214.4M$374.8Md
Capital expenditure$178.5Md$235.0Md$152.3M$177.9Md$167.4Md$183.2Md$127.4M$149.7Md
Free cash flow$122.2M$1.2B-$271.2M$150.8M$82.4M$959.7M$87.1M$225.2M

From XBRL data in 10-Q and 10-K filings. d derived: a fourth quarter is the full year minus the first nine months, and cash flows are year-to-date figures differenced.

10-Q and 10-K filings