lululemon athletica inc. is expected to release its Q3 2026 10-Q filing on September 2, 2026, after market close. Last quarter: Lululemon delivered 4.3% revenue growth to $2.5B in Q1 FY2026, led by China Mainland and Rest of World, but higher tariffs, markdowns, and operating expenses drove a 38.0% decline in net income to $195.0M and compressed operating margin to 11.2%. Source: 10-Q Item 2 MD&A, pp.18-23.
EPS Estimate
$1.84
Revenue Estimate
$2.51B
Analyst consensus from Finnhub and Financial Modeling Prep. Actual results posted within minutes of the SEC filing on the LULU page.
Drawn from management commentary in the Q2 2026 10-Q:
Total net revenue increased 4% to $2.5B, but Americas revenue declined 3% to $1.6B and comparable sales fell 5% amid lower conversion, reduced store traffic, and lower average order value. China Mainland revenue rose 30% to $478.4M, supported by 20% comparable-sales growth and 19 net new company-operated stores; Rest of World revenue increased 13% to $372.0M, supported by 13 net new stores.
Gross margin declined 410 basis points year over year to 54.2%, primarily reflecting a 270-basis-point reduction in product margin, including 330 basis points of pressure from higher tariffs, markdowns, credit-card affiliate programs, and higher inventory provisions. Operating margin fell 730 basis points to 11.2% as SG&A increased 12.4% to $1.1B, or 42.9% of revenue versus 39.8% a year earlier.
Lululemon paid $230.0M in tariffs under the International Emergency Economic Powers Act and has begun filing refund claims after the U.S. Supreme Court invalidated IEEPA tariffs on February 20, 2026. The company had not recognized an asset for these potential refunds as of May 3, 2026 because the ultimate recovery amount remains uncertain.
Revenue
$2.47B
+4.26% YoY
EPS (Diluted)
$1.69
-35.00% YoY
Gross Margin
54.2%
-4.2 pts YoY
Operating Income
$276.95M
-36.86% YoY
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