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Consumer Discretionary · NASDAQ: LULU

Lululemon: how the business works

Lululemon designs athletic clothing, shoes and accessories and sells most of them in its own stores and online, with revenue of $11.1 billion in FY2025.

By · Checked against filings: . Editorial policy. Corrections

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lululemon athletica inc. · Vancouver, British Columbia, Canada · Founded 1998

Updated for Q2 FY2026 · checked

Revenue, FY2025
$11.1B
Net income, FY2025
$1.58B
Company-operated stores, Aug 2, 2026
825
Employees, Feb 1, 2026
About 39,000
Founded
1998

For learning only. Cityfort is not a registered investment adviser or broker-dealer and does not recommend buying or selling any security. Prices shown are dated and may be out of date.

The short version

Lululemon in 5 points

  1. 1 · What it sells

    Lululemon designs athletic clothing, shoes and accessories, with $11.1 billion of revenue in FY2025, the year ended Feb 1, 2026, and 63.0% of it from women's products.

    More: what it sells

  2. 2 · Who pays it

    In FY2025, shoppers in Lululemon's own stores paid 45.5% of its revenue, online shoppers 44.3%, and other channels such as outlets, wholesale and licensees 10.2%.

    More: who pays it

  3. 3 · What it keeps from $100

    Of every $100 that came in during FY2025, Lululemon kept $14.2 as net income, and its income from operations was $2.21 billion, or 19.9% of revenue.

    More: what it keeps from $100

  4. 4 · Where the operating profit comes from

    In FY2025 the Americas earned $2.56 billion of segment income from operations, China Mainland $701.1 million and Rest of World $345.9 million, before $1.40 billion of corporate costs.

    More: where the operating profit comes from

  5. 5 · The one thing to watch

    Lululemon's comparable sales fell 9% in Q2 FY2026, with the Americas down 12%, and on Sep 3, 2026 the company lowered its FY2026 revenue outlook to $10.35 billion to $10.50 billion.

    More: the one thing to watch

Sources: From Lululemon's FY2025 10-K and its Q2 FY2026 earnings release · checked

See the full receipt and the management scorecard below

Sources (2)
Next: Where $100 goes

01Where the money goes · FY2025

Where does $100 of Lululemon's money go?

Of every $100 that came in (revenue plus other income), this is where it went.

Lululemon · FY2025

Receipt for every $100

Where $100 of Lululemon's money went in FY2025
Products sold (cost of goods sold)$43.3
Stores, staff, marketing and head office$36.6
Income tax$5.9
Kept as net income$14.2
Total$100

Each line = amount ÷ total money in × 100. Lines may not add to exactly $100 because of rounding.

How this is worked out

Cityfort calculation from the FY2025 10-K. Of every $100 that came in during FY2025 (revenue of $11,102.6 million plus $28.4 million of other income): each line = line ÷ $11,131.0 million × 100.

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Sources (1)
Next: The business in one line

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02The business in one line

What does Lululemon do?

Shoppers pay Lululemon for athletic clothing, shoes and accessories in its stores and online; most of the money goes on making the products and on stores, staff and marketing, and what's left is profit.

  • In FY2025, Lululemon's own stores brought in 45.5% of its revenue, e-commerce 44.3% and other channels such as outlets and wholesale 10.2%.
  • Of every $100 that came in during FY2025, the products themselves took $43.3 and Lululemon kept $14.2 as net income.
Next: Who pays it

03Who pays it

Who pays Lululemon?

  • Shoppers in Lululemon's stores

    46%

    of revenue

    People buying in company-operated stores: 45.5% of FY2025 revenue, or $5.05 billion.

  • Online shoppers

    44%

    of revenue

    People buying on Lululemon's websites and apps: 44.3% of FY2025 revenue, or $4.92 billion.

  • Other channels

    10%

    of revenue

    Outlets, temporary stores, wholesale partners, license fees and the Like New program: 10.2% of FY2025 revenue, or $1.13 billion.

  • Shoppers in Lululemon's stores46%
  • Online shoppers44%
  • Other channels10%

How spread out the customers are

Lululemon sells mainly to individual shoppers, so no single large customer is named in its FY2025 10-K. The United States was 57.0% of FY2025 revenue.

Sources (1)
Next: Why it makes money

04Why it makes money

Why does Lululemon make money?

Lululemon sells mostly through its own stores and websites, so it keeps a wide gross margin, but its store, staff and marketing costs stay when sales slow.

Gross profit was $56.6 per $100 of revenue in FY2025, down from $59.2 in FY2024; the company cites tariffs and the end of the US de minimis exemption. Selling, general and administrative costs rose to $36.6 per $100 from $35.5. Income from operations per $100 fell from $23.7 in FY2024 to $19.9 in FY2025.

Income from operations per $100 of revenue

$21.3$19.9

FY2021 to FY2025

  1. Lululemon designs products and pays outside vendors to make them
  2. Marketing and stores draw shoppers to the brand
  3. Most sales happen in its own stores and online, at its own prices
  4. The gap between price and product cost is gross profit
  5. Stores, staff, marketing and head office costs come out
  6. What is left pays for new stores and share buybacks

↺ Step 6 feeds back into step 1.

Sources (2)
Next: Business segments

05Business segments · FY2025

Which businesses make up Lululemon?

  • Americas

    71%

    The US, Canada and Mexico. Segment income from operations was $2.56 billion, 32.6% of its revenue as stated in the FY2025 10-K, down from $3.02 billion in FY2024.

    Revenue $7.8B · Operating profit $2.6B

  • China Mainland

    16%

    Stores and online sales in China Mainland. Segment income from operations was $701.1 million, 40.0% of its revenue as stated in the FY2025 10-K.

    Revenue $1.8B · Operating profit $701M

  • Rest of World

    14%

    Asia Pacific outside China Mainland, plus Europe, the Middle East and Africa. Segment income from operations was $345.9 million. All three segment figures leave out $1.40 billion of corporate costs (design, sourcing, technology, brand and head office), so they add up to more than the $2.21 billion company total.

    Revenue $1.5B · Operating profit $346M

How the mix changed

  • Americas
  • China Mainland
  • Rest of World

Revenue by segment, FY2021 to FY2025.

US$

See the numbers
How the mix changed (US$)
YearAmericasChina MainlandRest of World
FY2021$5.3B$434M$523M
FY2022$6.8B$577M$717M
FY2023$7.6B$964M$1.0B
FY2024$7.9B$1.4B$1.3B
FY2025$7.8B$1.8B$1.5B
Sources (2)
Next: How has it done

06The numbers · Consolidated · US$

How has Lululemon done?

Revenue

$11.1BFY2025

Revenue grew every year from $6.26 billion in FY2021 to $11.10 billion in FY2025, then Q2 FY2026 revenue fell 4.3% from a year earlier to $2.42 billion; FY2024 had 53 weeks and Q4 FY2024 had 14.

US$

See the numbers
Revenue (US$)
PeriodRevenue (US$)
FY2021$6.3B
FY2022$8.1B
FY2023$9.6B
FY2024$10.6B
FY2025$11.1B
Q1 FY2024$2.2B
Q2 FY2024$2.4B
Q3 FY2024$2.4B
Q4 FY2024$3.6B
Q1 FY2025$2.4B
Q2 FY2025$2.5B
Q3 FY2025$2.6B
Q4 FY2025$3.6B
Q1 FY2026$2.5B
Q2 FY2026$2.4B

Net profit

$1.6BFY2025

Net income peaked at $1.81 billion in FY2024 and was $1.58 billion in FY2025; FY2022 includes a $407.9 million impairment of the lululemon Studio business, and Q2 FY2026 includes $134.5 million of tariff refunds before tax.

US$

See the numbers
Net profit (US$)
PeriodNet profit (US$)EPS ($)
FY2021$975M$7.49
FY2022$855M$6.68
FY2023$1.6B$12.20
FY2024$1.8B$14.64
FY2025$1.6B$13.26
Q1 FY2024$321M$2.54
Q2 FY2024$393M$3.15
Q3 FY2024$352M$2.87
Q4 FY2024$748M$6.14
Q1 FY2025$315M$2.60
Q2 FY2025$371M$3.10
Q3 FY2025$307M$2.59
Q4 FY2025$587M$5.01
Q1 FY2026$195M$1.69
Q2 FY2026$329M$2.92

Profit kept per $100 of revenue

$14.2FY2025

Net income per $100 of revenue fell from $17.1 in FY2024 to $14.2 in FY2025, a year in which the company cites tariffs and the end of the US de minimis exemption.

$ of profit per $100 of revenue (net margin)

See the numbers
Profit kept per $100 of revenue ($ of profit per $100 of revenue (net margin))
YearNet marginEBITDA margin
FY202115.6%24.9%
FY202210.5%20.0%
FY202316.1%26.1%
FY202417.1%27.9%
FY202514.2%24.4%

Free cash flow

$922MFY2025

Free cash flow fell from $1.58 billion in FY2024 to $921.7 million in FY2025, while Lululemon spent $1.18 billion buying back its own shares.

US$ · cash from operations minus spending on plants and equipment

See the numbers
Free cash flow (US$ · cash from operations minus spending on plants and equipment)
YearCash from operationsCapital spendingFree cash flow
FY2021$1.4B$395M$995M
FY2022$967M$639M$328M
FY2023$2.3B$652M$1.6B
FY2024$2.3B$689M$1.6B
FY2025$1.6B$681M$922M
See all yearly numbers
Lululemon annual financials, FY2021–FY2025, US$
YearRevenueEBITDANet profitEPS ($)Operating cashCapexFree cash
FY2021$6.3B$1.6B$975M$7.49$1.4B$395M$995M
FY2022$8.1B$1.6B$855M$6.68$967M$639M$328M
FY2023$9.6B$2.5B$1.6B$12.20$2.3B$652M$1.6B
FY2024$10.6B$3.0B$1.8B$14.64$2.3B$689M$1.6B
FY2025$11.1B$2.7B$1.6B$13.26$1.6B$681M$922M

EBITDA here = operating income plus depreciation and amortization (from the cash flow statement). Fiscal years are the company's own (Sunday closest to January 31; FY2025 is the 52 weeks ended Feb 1, 2026, FY2024 had 53 weeks, and Q2 FY2026 ended Aug 2, 2026). Net profit is the share belonging to the company's owners.

Download Lululemon's yearly and quarterly numbers (CSV, with source ids)

Learn: Fiscal years that don't end in December: Nvidia's FY2027 explained · Stock-based compensation and dilution: pay that becomes shares

Sources (10)
Next: What they said, and what happened

07Who runs it

Who runs Lululemon, and did they deliver?

  • Heidi O'Neill

    Chief Executive Officer and director · since 2026

    Formerly of Nike; became CEO and joined the board on Sep 8, 2026. Her offer sets base salary at $1.4 million, a target bonus of 200% of salary and annual equity awards of about $10 million.

  • Marti Morfitt

    Executive Chair

    Named executive chair in the CEO transition announced on Dec 11, 2025.

  • Meghan Frank

    Chief Financial Officer

    Also interim co-CEO after Calvin McDonald stepped down on Jan 31, 2026, until O'Neill started. FY2025 total pay was $9.67 million.

  • Andre Maestrini

    President and Chief Commercial Officer · since 2025

    Appointed in November 2025 and also interim co-CEO in 2026. FY2025 total pay was $9.73 million.

  • Maggie Gauger

    President and Chief Product Officer · since 2026

    Former CEO of Athleta; started Oct 26, 2026.

  • Joseph Godsey

    Chief Operating Officer · since 2026

    Formerly of Walmart Canada; started Oct 26, 2026.

  • Calvin McDonald

    Former Chief Executive Officer

    Stepped down on Jan 31, 2026. FY2025 total pay was $24.0 million, of which $13.8 million was option awards.

What they said, and what happened

1 missed · 2 delivered · 1 withdrawn · 1 partly delivered · 1 too early to tell

  1. Said on Mar 27, 2025

    Lululemon guided FY2025 revenue of $11.15 billion to $11.30 billion and diluted EPS of $14.95 to $15.15.

    What happened

    FY2025 revenue was $11.10 billion and diluted EPS $13.26. The company lowered the EPS range on Jun 5, 2025 and both ranges on Sep 4, 2025.

    Missed

  2. Said on Dec 11, 2025

    Lululemon guided Q4 FY2025 revenue of $3.500 billion to $3.585 billion and diluted EPS of $4.66 to $4.76.

    What happened

    Q4 FY2025 revenue was $3.64 billion and diluted EPS $5.01, both above the range. On Jan 12, 2026 the company had said it expected results toward the high end.

    Delivered

  3. Said on Mar 17, 2026

    Lululemon guided Q1 FY2026 revenue of $2.400 billion to $2.430 billion and diluted EPS of $1.63 to $1.68.

    What happened

    Q1 FY2026 revenue was $2.47 billion and diluted EPS $1.69.

    Delivered

  4. Said on Mar 17, 2026

    Lululemon guided FY2026 revenue of $11.35 billion to $11.50 billion, up 2% to 4%, and diluted EPS of $12.10 to $12.30.

    What happened

    Lowered on Jun 4, 2026 to $11.00 billion to $11.15 billion, and on Sep 3, 2026 to $10.35 billion to $10.50 billion.

    Withdrawn

  5. Said on Jun 4, 2026

    Lululemon guided Q2 FY2026 revenue of $2.450 billion to $2.475 billion and diluted EPS of $1.76 to $1.81, excluding any tariff refunds.

    What happened

    Revenue was $2.42 billion, below the range. Diluted EPS was $2.92, including $0.86 from tariff refunds that the range left out.

    Partly delivered

  6. Said on Sep 3, 2026

    Lululemon guided Q3 FY2026 revenue of $2.290 billion to $2.320 billion, down 10% to 11%, and diluted EPS of $0.93 to $0.98.

    What happened

    Q3 FY2026 ended Nov 1, 2026; results had not been released when this page was written.

    Too early to tell
Sources (14)
Next: What could go wrong

08What could go wrong

What could go wrong for Lululemon?

  • Demand

    Falling sales in the Americas

    The Americas were 70.7% of FY2025 revenue. Comparable sales there fell 12% in Q2 FY2026, and segment revenue fell to $1,616.8 million from $1,758.2 million. Lululemon's FY2026 outlook, lowered on Sep 3, 2026, expects total revenue to fall 5% to 7%.

    Watch Americas comparable sales and revenue in each earnings release.

  • Regulation

    Tariffs and the end of the de minimis exemption

    Lululemon put the unmitigated hit from tariffs and the end of the US de minimis exemption at about $275 million of FY2025 gross profit. Most US online orders shipped from Canada. It paid $216 million of IEEPA tariffs in FY2025; Q2 FY2026 includes $134.5 million of refunds, and the 10-Q says further refunds are uncertain.

    Watch Gross margin and any tariff refund line in each earnings release and 10-Q.

  • Concentration

    Few vendors and countries make most products

    The top five of about 51 vendors made 47% of Lululemon's products in FY2025, and Vietnam alone made 40%. Most vendors have no long-term contract. Fabric came mainly from Taiwan and China Mainland.

    Watch Vendor and country shares in each 10-K, Item 1.

  • Concentration

    Growth relies on China Mainland

    China Mainland was 15.8% of FY2025 revenue, up from 6.9% in FY2021, with 172 stores. Its Q2 FY2026 revenue was $407.1 million, against $392.9 million a year earlier. The 10-K's risk factors say its future growth depends in part on its expansion efforts outside of the Americas.

    Watch China Mainland revenue and segment income in each 10-Q.

  • Execution

    New leadership team

    A new CEO started on Sep 8, 2026, a new President and Chief Product Officer and a new COO on Oct 26, 2026, and other senior officers left in 2025 and 2026. Lululemon's 10-Q lists leadership transitions among its risk factors.

    Watch Officer changes in 8-K filings and the new team's plans in the next earnings releases.

  • Governance

    Founder activism and board control

    Founder Chip Wilson holds 8.6% of the votes and ran a proxy contest that ended with a May 26, 2026 cooperation agreement and three new directors. The standstill runs to 30 days before the 2028 nomination deadline. Lululemon's 10-Q lists stockholder activism among its risk factors.

    Watch Schedule 13D amendments by Wilson and the 2027 proxy statementThe yearly filing about shareholder votes, the board and executive pay. Learn more.

  • Legal

    Pending class actions

    A purported securities class action (Patel v. Lululemon, S.D.N.Y.) was filed on Aug 8, 2024; on Mar 31, 2026 the court granted in part and denied in part the motion to dismiss, and the company said it intends to defend the action vigorously. Two purported consumer class actions filed in 2026 assert claims relating to alleged tariff-related pricing actions and potential government tariff reimbursements; the company says it intends to defend them. No amounts are stated.

    Watch The legal proceedings note in each 10-Q and 10-K.

Sources (11)
Next: Supporters vs. critics

09Both sides

What do supporters and critics point to?

Facts each side points to. We don't say which side is right.

What supporters point to

  • Revenue grew every year from FY2021 to FY2025, to $11.10 billion.
  • China Mainland revenue grew from $434.3 million in FY2021 to $1,754.8 million in FY2025.
  • Lululemon had no borrowings and $1,389.7 million of cash at Aug 2, 2026.
  • Diluted weighted shares fell from 130.3 million in FY2021 to 119.1 million in FY2025 through buybacks.
  • The founder's proxy contest ended with a cooperation agreement on May 26, 2026, and a new CEO started on Sep 8, 2026.

What critics point to

  • Comparable sales fell 9% in Q2 FY2026, with the Americas down 12%.
  • Lululemon lowered its FY2026 revenue outlook twice, from $11.35 billion to $11.50 billion on Mar 17, 2026 to $10.35 billion to $10.50 billion on Sep 3, 2026.
  • Income from operations per $100 of revenue fell from $23.7 in FY2024 to $19.9 in FY2025, and Q1 FY2026 operating margin was 11.2%.
  • Free cash flow was $921.7 million in FY2025, while buybacks were $1.18 billion.
  • Lululemon had a new CEO, a new President and Chief Product Officer and a new COO within two months in 2026.
Next: What to watch next

10What to watch next

What should you watch next at Lululemon?

Next event

Q3 FY2026 results

Date not announced yet.

  • Q3 FY2026 against the Sep 3, 2026 outlook

    Lululemon said it expects Q3 FY2026 revenue of $2.290 billion to $2.320 billion and diluted EPS of $0.93 to $0.98. Q3 FY2025 revenue was $2.57 billion.

  • Americas comparable sales

    They fell 12% in Q2 FY2026, and Americas revenue fell 8%. The Americas were 70.7% of FY2025 revenue.

  • Gross margin and tariff refunds

    Q2 FY2026 gross margin was 60.5%, including 5.6 percentage points from tariff refunds. The 10-Q says further refunds are uncertain.

Next: Key dates

11Key dates

What are the key dates for Lululemon?

Dates as stated in the filings. A date that no filing has given yet shows as not yet stated.
Key dates for Lululemon
EventDateSource
Fiscal 2026 endsA 52-week year. Q3 FY2026 ended Nov 1, 2026; its results date was not announced in the filings read.Q2 fiscal 2026 earnings release (8-K Ex. 99.1, Sep 3, 2026)
Charter amendment to declassify the board to be proposed at the 2027 annual meetingStockholders backed declassification at the Jun 25, 2026 meeting; if adopted, it takes effect from the 2028 meeting.Not yet statedForm 8-K, Items 5.02, 5.07: 2026 annual meeting results; Laura Gentile and Marc Maurer join board; Form 8-K, Item 1.01: Cooperation Agreement with Dennis J. "Chip" Wilson (May 26, 2026)
Chip Wilson's standstill under the cooperation agreement endsIt runs to 30 days before the deadline for director nominations at the 2028 annual meeting.Not yet statedForm 8-K, Item 1.01: Cooperation Agreement with Dennis J. "Chip" Wilson (May 26, 2026)
$600 million revolving credit facility maturesForm 8-K, Items 1.01, 2.03: $600M Second Amended and Restated Credit Agreement (Oct 15, 2025)

Learn: How to read a proxy statement (DEF 14A): Nvidia's 2026 proxy · Fiscal years that don't end in December: Nvidia's FY2027 explained

Sources (4)
Next: Key facts

12Key facts

Key facts about Lululemon

What does Lululemon do?
Lululemon (lululemon athletica inc.) designs and sells athletic clothing, shoes and accessories, mostly through its own stores and websites. Lululemon's revenue was $11.1 billion in FY2025, the year ended Feb 1, 2026, and it ran 811 company-operated stores on that date.
What is Lululemon's business model, and how does Lululemon make money?
Lululemon makes money by selling products it designs and has made by outside vendors, mostly straight to shoppers. In FY2025, Lululemon's company-operated stores brought in 45.5% of revenue, e-commerce 44.3% and other channels such as outlets, wholesale and licensees 10.2%.
Who are Lululemon's customers?
Lululemon's customers are mainly individual shoppers, whom the company calls guests, buying in its stores and online. Women's products were 63.0% of Lululemon's FY2025 revenue and men's products 24.0%.
Is Lululemon profitable?
Yes. Lululemon's net income was $1.58 billion in FY2025, down from $1.81 billion in FY2024, and its income from operations was $2.21 billion, or 19.9% of revenue. In Q2 FY2026, Lululemon's net income was $329.2 million, including $134.5 million of tariff refunds before tax.
What is Lululemon's revenue by segment?
In FY2025, Lululemon's revenue came from the Americas ($7.85 billion, 70.7%), China Mainland ($1.75 billion, 15.8%) and Rest of World ($1.50 billion, 13.5%).
Who owns Lululemon?
Lululemon founder Dennis J. "Chip" Wilson and his entities held 8.6% of Lululemon's stock, as reported in a Schedule 13D/A for an event on Sep 1, 2026. Vanguard Capital Management reported 7.22% at Mar 31, 2026 and BlackRock 5.8% at Sep 30, 2026. Lululemon's directors and executive officers as a group held less than 1% in the 2026 proxy statement.
How much does Lululemon make from women's products?
Lululemon's women's product revenue was $7.00 billion in FY2025, 63.0% of revenue, up from $6.69 billion in FY2024.
How much does Lululemon make from men's products?
Lululemon's men's product revenue was $2.66 billion in FY2025, 24.0% of revenue, up from $2.56 billion in FY2024.
How much does Lululemon make from accessories and footwear?
Lululemon's accessories and other category, which includes accessories, footwear and lululemon Studio, brought in $1.44 billion in FY2025, 13.0% of revenue, up from $1.34 billion in FY2024.
How many stores does Lululemon have?
Lululemon ran 811 company-operated stores at Feb 1, 2026, including 379 in the US, 172 in China Mainland and 71 in Canada. Lululemon had 825 stores at Aug 2, 2026.
Sources (6)
Next: Go deeper

Terms on this page

Each explains the term in plain English, with the same number from other companies on Cityfort.

Go deeper

More detail from the same filings. Open any section.

13What it sells

13What it sells

What does Lululemon sell?

Lululemon sells athletic and casual clothing, plus shoes and other accessories, under the lululemon name. Women's products bring in most of the money. Lululemon designs the products, and outside vendors make them.

  • Women's products ($7.00B in FY2025)

    Women's clothing and other women's products: 63.0% of FY2025 revenue.

  • Men's products ($2.66B)

    Men's clothing and other men's products: 24.0% of FY2025 revenue.

  • Accessories and other ($1.44B)

    Accessories and footwear, plus what remains of lululemon Studio, its at-home fitness business: 13.0% of FY2025 revenue.

What it does

  • Does: Designs its own clothing, shoes and accessories
  • Does: Sells mostly through its own stores and websites: 89.8% of FY2025 revenue
  • Does: Runs outlets and sells some products through wholesale partners and licensed stores
  • Does: Operates in 30 countries, with 172 stores in China Mainland at Feb 1, 2026

What it does not do

  • Does not: Does not own factories: about 51 outside vendors made its products in FY2025
  • Does not: Does not rely on department stores or other retailers for most sales: wholesale is part of the 10.2% from other channels
  • Does not: Does not pay dividends: it returns cash through share buybacks
  • Does not: Does not have borrowings: it had none at Aug 2, 2026
Sources (1)
14How the money flows

14How the money flows · FY2025

How does money flow through Lululemon?

Money in

  • Sales in company-operated stores$5.0B
  • E-commerce sales$4.9B
  • Other channels (outlets, wholesale, license fees)$1.1B
  • Other income, net$28.4M

The company

Lululemon

$11.1B came in

Money out

  • Cost of goods sold, including tariffs$4.8B
  • Selling, general and administrative (stores, staff, marketing, head office), plus $7.0M amortization$4.1B
  • Income tax$660M
  • Net income$1.6B
  1. Shoppers paid Lululemon $11.1 billion in FY2025: $5.05 billion in its stores, $4.92 billion online and $1.13 billion through other channels.
  2. Cost of goods sold took $4.82 billion, leaving $6.28 billion of gross profit.
  3. Stores, staff, marketing and head office costs took $4.07 billion, so income from operations was $2.21 billion.
  4. Other income added $28.4 million, and income tax took $659.8 million.
  5. $1.58 billion was left as net income in FY2025.
Sources (1)
15What it needs to run

15What it needs to run

What does Lululemon need to run?

  • Outside product vendors

    About 51 vendors made Lululemon's products in FY2025; the top five made 47% and the largest 15%. Vietnam made 40%, Cambodia 18%, Sri Lanka 11% and Indonesia 11%. Most vendors have no long-term contract.

  • Fabric suppliers

    About 65 suppliers provided fabric; the top five supplied 48% and the largest 20%. Fabric came mainly from Taiwan (34%) and China Mainland (29%).

  • Stores

    811 company-operated stores at Feb 1, 2026: 379 in the US, 71 in Canada, 26 in Mexico, 172 in China Mainland, 114 elsewhere in Asia Pacific and 49 in Europe, the Middle East and Africa.

  • Distribution centers

    Lululemon owns a distribution center in Groveport, Ohio, and leases others in the US, Canada and Australia. Most US online orders shipped from its Canadian centers.

  • Brand marketing

    Advertising expense was $617.5 million in FY2025, up from $541.5 million in FY2024.

  • People

    About 39,000 employees at Feb 1, 2026, the same as a year earlier.

Sources (2)
16Where it sells

16Where it sells · FY2025

Where does Lululemon sell?

  • United States57%
  • China Mainland16%
  • Canada13%
  • Other countries12%
  • Hong Kong SAR, Taiwan and Macau SAR2%
  • Mexico1%
Sources (1)
17Where growth could come from

17Where growth could come from

Where could Lululemon's growth come from?

Lululemon said on Sep 3, 2026 that it expects FY2026 revenue of $10.35 billion to $10.50 billion, down 5% to 7%, and diluted EPS of $9.48 to $9.73, including $0.86 from tariff refunds. It had given $11.35 billion to $11.50 billion on Mar 17, 2026 and $11.00 billion to $11.15 billion on Jun 4, 2026. FY2025 revenue was $11.10 billion and diluted EPS $13.26.
Management statement, Sep 3, 2026. Reported as a statement, not our forecast.

  • China Mainland

    Working

    $1.75B in FY2025, up from $434M in FY2021

    China Mainland revenue grew to $1,754.8 million in FY2025, with comparable sales up 20%. Q2 FY2026 revenue was $407.1 million, against $392.9 million a year earlier.

    Status: Working, on track against what the company said.

  • Rest of World

    Working

    $1.50B in FY2025, up from $1.30B

    Revenue in Asia Pacific outside China Mainland and in Europe, the Middle East and Africa rose from $1,298.6 million in FY2024 to $1,500.8 million in FY2025. Q2 FY2026 revenue was $391.8 million, up from $374.1 million.

    Status: Working, on track against what the company said.

  • Americas

    Behind

    Comparable sales −12% in Q2 FY2026

    Americas revenue fell from $7,928.2 million in FY2024 to $7,847.0 million in FY2025. In Q2 FY2026 it was $1,616.8 million, down 8% from a year earlier.

    Status: Behind, behind the company's own plan.

  • E-commerce

    Mixed

    $4.92B in FY2025, up from $4.57B

    Online revenue rose from $4,570.4 million in FY2024 to $4,918.7 million in FY2025, while revenue from company-operated stores was $5,049.7 million, up from $5,007.9 million.

    Status: Mixed, partly on track.

  • New stores

    Working

    811 stores at Feb 1, 2026; 825 at Aug 2, 2026

    Lululemon ran 574 company-operated stores at the end of FY2021 and 811 at the end of FY2025.

    Status: Working, on track against what the company said.

  • Mexico

    New

    $95.5M revenue in FY2025

    Lululemon bought its Mexico stores from its licensee on Sep 10, 2024 for $154.1 million net of cash. It ran 26 stores there at Feb 1, 2026.

    Status: New, recently announced.

Status compares progress with what the company itself said it would do: Working = on track against what the company said; Mixed = partly on track; Behind = behind the company's own plan; New = recently announced; Early = too early to judge.

Sources (7)
18The company's own measures (non-GAAP)

18The company's own measures · FY2025 and Q2 FY2026

What do Lululemon's own measures show?

These are Lululemon's own measures, shown next to the official (GAAP) number. They are never added together.

  • Official (GAAP): Reported revenue growth, Q2 FY2026 (Cityfort calculation from the Q2 FY2026 earnings release)

    −4.3%

    Company's own measure: Comparable sales growth, Q2 FY2026

    −9%

    Lululemon's measure: sales at stores open at least 12 full fiscal months, plus e-commerce. Americas comparable sales fell 12%.

  • Official (GAAP): Reported revenue growth, FY2025 (Cityfort calculation from the FY2025 10-K)

    4.9%

    Company's own measure: Comparable sales growth, FY2025

    2%

    Same definition. By segment: Americas −3%, China Mainland +20%, Rest of World +9%.

  • Official (GAAP): Reported revenue growth, FY2025 (Cityfort calculation from the FY2025 10-K)

    4.9%

    Company's own measure: Revenue growth excluding the 53rd week, FY2025

    7%

    Lululemon's statement: FY2024 had 53 weeks, so the company also compares FY2025 with the first 52 weeks of FY2024.

  • Official (GAAP): Diluted EPS, Q2 FY2026

    $2.92

    Company's own measure: Effect of tariff refunds on diluted EPS, Q2 FY2026

    $0.86

    Lululemon's statement: $134.5 million of IEEPA tariff refunds credited to cost of goods sold, plus $4.1 million of interest, added $0.86 to diluted EPS.

  • Official (GAAP): Gross margin, Q2 FY2026

    60.5%

    Company's own measure: Effect of tariff refunds on gross margin, Q2 FY2026

    5.6%

    Lululemon's statement: the refunds added 560 basis points (5.6 percentage points) to gross margin and to operating margin.

These are the company's own measures, defined by the company. They are not comparable across companies, and they are not added together. Each sits beside the nearest official (GAAP) figure.

Learn: Non-GAAP measures: what a company's "adjusted" numbers leave out

Sources (4)
19Financial strength and debt

19Financial strength · Aug 2, 2026

How much debt does Lululemon have?

At Aug 2, 2026 Lululemon had $1,389.7 million of cash and no borrowings.
  • Total debt$0M
  • Cash and investments$1.4B
  • Net cash (cash minus debt)$1.4B
  • Net worth (shareholders' money)$4.8B
Debt to equity
0×
$ of debt for every $1 of shareholders' money
  • Net cash of $1,389.7 million is a Cityfort calculation from the Q2 FY2026 10-Q (cash and cash equivalents minus borrowings, which were zero). At Feb 1, 2026, cash was $1,807.2 million, also with no borrowings.
  • Store and office lease liabilities were $366.6 million due within a year and $1,774.5 million due later at Aug 2, 2026. The filings do not count them as debt, and neither does this page.
  • Lululemon has a $600.0 million unsecured revolving credit facility maturing Oct 15, 2030, which can grow to $1.0 billion; $593.7 million was available at Aug 2, 2026, after $6.3 million of letters of credit.
  • Inventories were $1,711.5 million at Aug 2, 2026; the company says they were down 1% from a year earlier, with units down 7%.
  • Lululemon had no borrowings at any year-end from FY2021 to FY2025.
Sources (7)
20Who owns it

20Who owns it · ownership as of Apr 30, 2026

Who owns Lululemon?

Each common share and each exchangeable share carries one vote, so votes follow economic ownership. The founder, Chip Wilson, is the largest holder with 8.6%. Directors and executive officers as a group held 254,943 shares, less than 1%, at the Apr 30, 2026 record date. Holder rows come from different dates, so never add them.
Share classes
Lululemon share classes: shares outstanding (millions) and votes per share
ClassShares (millions)Votes per shareHeld by% of shares% of votesTraded
Common stock (105,594,064 shares on Aug 28, 2026 (10-Q cover). Percentages are a Cityfort calculation from the Q2 FY2026 10-Q cover.)105.61Public and institutional investors; trades on Nasdaq as LULU95.4%95.4%Yes
Exchangeable shares of Lulu Canadian Holding, with paired special voting stock (5,115,961 shares on Aug 28, 2026. Each exchanges one-for-one into common stock and has the same economic rights; the vote comes from one paired share of special voting stock, which is canceled on exchange. Percentages are a Cityfort calculation from the Q2 FY2026 10-Q cover.)5.11Chip Wilson's entities and Shannon Wilson hold all of them4.6%4.6%No
Holders of 5% or more
Lululemon holders of 5% or more, from the proxy statement or later Schedule 13G filings; each row shows its own date
HolderSharesVotesAs ofSourceNote
Dennis J. "Chip" Wilson and affiliates8.6%–Sep 1, 2026S179,570,851 shares, including all 5,115,961 exchangeable shares, from his Schedule 13D/A (Amendment No. 25). Founder; not a director or officer. The 13D/A says an affiliate entered a two-year prepaid variable forward contract with Goldman Sachs on 1,274,318 of these shares, secured by those shares.
Vanguard Capital Management7.2%–Mar 31, 2026S19, S207,985,349 shares, from its Schedule 13G filed Apr 28, 2026. Filed separately after The Vanguard Group's internal realignment; The Vanguard Group itself reported 0%.
BlackRock, Inc.5.8%–Sep 30, 2026S18, S166,122,306 shares, from its Schedule 13G/A filed Oct 27, 2026. The 2026 proxy statement showed 8.0% from an older filing.
G1 Execution Services (Susquehanna affiliates)5.7%–Apr 30, 2026S166,487,961 shares, as shown in the 2026 proxy statement from a Schedule 13G filed Nov 13, 2025.

From the company's proxy statement (DEF 14A), later Schedule 13G filings and the share counts on its latest annual or quarterly report. Each holder row shows the date of its own filing.

Insider trades · Form 4 data as of Nov 6, 2026

What did Lululemon's insiders report trading?

Lululemon's insiders made 47 Form 4A filing an insider must make within two business days of buying or selling the company's shares. Learn more filings in the 12 months to Nov 6, 2026.

They reported 3 purchases (13,640 shares) and 4 sales (16,791 shares) in the open market or privately (codes P and S).

None of the sales were on forms with the Rule 10b5-1 plan box checked.

The same filings report 48 other share transactions (A: 28, F: 14, M: 5, G: 1).

They also report 21 transactions in options, stock units or other derivatives.

Insiders are a company's officers, directors and owners of more than 10% of a class of its shares. Most changes in their holdings must be reported to the SEC on a Form 4 within two business days. Source: SEC Form 4 filings on EDGAR.

P
a purchase in the open market or privately
S
a sale in the open market or privately
A
a grant, award or other acquisition from the company under Rule 16b-3
F
shares withheld or handed over to pay an exercise price or tax when an award is received, exercised or vests
M
exercise or conversion of an option or other derivative, exempt under Rule 16b-3
G
a bona fide gift

Code meanings: General Instruction 8 of Form 4 (SEC).

The latest 25 of 55 transactions
Lululemon's insider transactions reported on Form 4 in the 12 months to Nov 6, 2026, newest filing first
InsiderTrade dateCodeSharesPriceHeld after10b5-1 boxFiling
FRANK MEGHANChief Financial OfficerOct 9, 2026A42,328 A$0.0074,292Not checkedForm 4, filed Oct 13, 2026
MORFITT MARTHA A MDirectorJun 25, 2026A1,606 A$0.0088,596Not checkedForm 4, filed Jun 29, 2026
White EmilyDirectorJun 25, 2026A1,606 A$0.009,739Not checkedForm 4, filed Jun 29, 2026
Loehnis AlisonDirectorJun 25, 2026A1,606 A$0.003,808Not checkedForm 4, filed Jun 29, 2026
List TeriDirectorJun 25, 2026A1,606 A$0.002,839Not checkedForm 4, filed Jun 29, 2026
Bergh Charles VDirectorJun 25, 2026A1,606 A$0.001,878Not checkedForm 4, filed Jun 29, 2026
Henry KathrynDirectorJun 25, 2026A1,606 A$0.007,122Not checkedForm 4, filed Jun 29, 2026
Bracey Esi EgglestonDirectorJun 25, 2026A1,606 A$0.001,853Not checkedForm 4, filed Jun 29, 2026
McNeill JonDirectorJun 25, 2026A1,606 A$0.0010,928Not checkedForm 4, filed Jun 29, 2026
Mahe IsabelDirectorJun 25, 2026A1,606 A$0.004,125Not checkedForm 4, filed Jun 29, 2026
Gentile LauraDirectorJun 25, 2026A1,606 A$0.002,606Not checkedForm 4, filed Jun 29, 2026
Maurer MarcDirectorJun 25, 2026A1,606 A$0.001,606Not checkedForm 4, filed Jun 29, 2026
Bergh Charles VDirectorJun 15, 2026P4,275 A$117.048810,365 (indirect: By Trust)Not checkedForm 4, filed Jun 16, 2026
Bracey Esi EgglestonDirectorJun 9, 2026A247 A$0.00247Not checkedForm 4, filed Jun 11, 2026
FRANK MEGHANCFO & Interim Co-CEOJun 8, 2026F28 D$117.5531,964Not checkedForm 4, filed Jun 10, 2026
NEUBURGER NICOLEChief Brand OfficerJun 8, 2026F55 D$117.5519,101Not checkedForm 4, filed Jun 10, 2026
NEUBURGER NICOLEChief Brand OfficerApr 8, 2026S622 D$161.0019,156Not checkedForm 4, filed Apr 9, 2026
MAESTRINI ANDREPres, CCO & Interim Co-CEOApr 1, 2026P3,275 A$151.0234,551Not checkedForm 4, filed Apr 3, 2026
MAESTRINI ANDREPres, CCO & Interim Co-CEOMar 31, 2026F357 D$153.1031,276Not checkedForm 4, filed Apr 2, 2026
NEUBURGER NICOLEChief Brand OfficerMar 31, 2026F369 D$153.1019,778Not checkedForm 4, filed Apr 2, 2026
FRANK MEGHANCFO & Interim Co-CEOMar 31, 2026F400 D$153.1031,992Not checkedForm 4, filed Apr 2, 2026
FRANK MEGHANCFO & Interim Co-CEOMar 30, 2026M3,754 A$0.0034,570Not checkedForm 4, filed Apr 1, 2026
FRANK MEGHANCFO & Interim Co-CEOMar 30, 2026F1,977 D$145.8332,593Not checkedForm 4, filed Apr 1, 2026
FRANK MEGHANCFO & Interim Co-CEOMar 30, 2026F201 D$145.8332,392Not checkedForm 4, filed Apr 1, 2026
NEUBURGER NICOLEChief Brand OfficerMar 30, 2026M3,754 A$0.0022,327Not checkedForm 4, filed Apr 1, 2026

Shares: A = acquired, D = disposed of. A price the filing gives only in a footnote shows as “See filing”. The 10b5-1 box is checked when at least one trade on the form was made under a Rule 10b5-1 plan. A Form 4/A replaces the form it amends. See all of Lululemon's Form 4 filings on EDGAR.

Learn: Dual-class shares: when votes and ownership don't match · How to read a proxy statement (DEF 14A): Nvidia's 2026 proxy · Form 4 insider filings: who files, the codes and the footnotes · Rule 10b5-1 trading plans: how insiders pre-schedule their trades

Sources (7)
21What it does with profit

21What it does with profit

What does Lululemon do with its profit?

Lululemon paid no dividends in FY2021 to FY2025 or the first half of FY2026. Its buyback program totals $4.0 billion, approved in four $1.0 billion steps from Nov 29, 2023 to Dec 3, 2025, with no expiration; $712.5 million remained at Aug 2, 2026. From Aug 3 to Aug 28, 2026 it bought 1.0 million more shares for $118.8 million. Diluted weighted shares fell from 130.3 million in FY2021 to 119.1 million in FY2025.

  • Buyback · Jan 30, 2022

    Shares repurchased during FY2021 (cash flow statement).

    $813M

  • Buyback · Jan 29, 2023

    Shares repurchased during FY2022 (cash flow statement).

    $444M

  • Buyback · Jan 28, 2024

    Shares repurchased during FY2023 (cash flow statement).

    $559M

  • Buyback · Feb 2, 2025

    Shares repurchased during FY2024 (cash flow statement): 5.1 million shares, including excise tax.

    $1.6B

  • Buyback · Feb 1, 2026

    Shares repurchased during FY2025 (cash flow statement): 5.0 million shares.

    $1.2B

  • Buyback · Aug 2, 2026

    Shares repurchased in the first half of FY2026 (cash flow statement): 4.9 million shares.

    $695M

Sources (4)
22Governance signals

22Governance signals

What do Lululemon's governance filings show?

Auditor
PricewaterhouseCoopers LLP
Auditor changes
None in the period covered
Audit qualifications
None reported
Related-party dealings
The 2026 proxy statement reports no related-party transactions that required disclosure under SEC rules (Item 404(a)). PwC's audit fees for FY2025 were $2.8 million.
Credit rating
No public credit rating found in a search of rating agency sites on Nov 7, 2026

Flags to know about

  • other · May 26, 2026

    Founder's proxy contest ended in a cooperation agreement

    Chip Wilson gave notice on Dec 29, 2025 that he would nominate three directors. A May 26, 2026 cooperation agreement added Laura Gentile and Marc Maurer after the Jun 25, 2026 meeting and Tara Poseley on Oct 19, 2026, with a standstill. Proxy contest costs were $24.8 million in the first half of FY2026.

  • other · Oct 26, 2026

    Many senior leadership changes

    CEO Calvin McDonald stepped down on Jan 31, 2026, and Heidi O'Neill became CEO on Sep 8, 2026. The Chief AI and Technology Officer left on Aug 13, 2026. A new President and Chief Product Officer and a new COO started Oct 26, 2026, and the departures of two other officers take effect on Nov 6, 2026.

  • other · Oct 19, 2026

    Board changes in 2026

    Chip Bergh joined the board in March 2026 and Esi Eggleston Bracey in April 2026, as two directors announced their retirement. The board had 13 members after Oct 19, 2026.

  • other · Jun 25, 2026

    Board declassification and pay vote

    At the Jun 25, 2026 meeting, a proposal to declassify the board received 73.1 million votes for; a charter amendment is to be proposed in 2027. The say-on-pay vote received 46.4 million votes for and 27.0 million against.

  • other · Mar 31, 2026

    Securities and consumer class actions

    A purported securities class action (Patel v. Lululemon, S.D.N.Y.) was filed on Aug 8, 2024; on Mar 31, 2026 the court granted in part and denied in part the motion to dismiss, and the company said it intends to defend the action vigorously. Two purported consumer class actions were filed against its US subsidiary, on Mar 27, 2026 in the Eastern District of Michigan and on Jun 30, 2026 in the Western District of Washington, asserting claims relating to alleged tariff-related pricing actions and potential government tariff reimbursements; they seek unspecified damages or restitution, and the company says it intends to defend them. No amounts are stated.

Sources (14)
23What the market paid

23What the market paid · price as of Nov 5, 2026

What did the market pay for Lululemon on Nov 5, 2026?

Price as of Nov 5, 2026 (shown for education; prices change daily).

Price as of Nov 5, 2026: Lululemon's common stock closed at $111.77 on Nasdaq. Times 110.7 million shares (105.6 million common and 5.1 million exchangeable shares, Aug 28, 2026), that is a market value of about $12.4 billion (Cityfort calculation from the Nov 5, 2026 Nasdaq closing price and the Q2 FY2026 10-Q cover); the exchangeable shares are not listed but carry the same economic rights as common stock. P/E, the price divided by diluted earnings per share over the four quarters to Aug 2, 2026 ($12.21), was 9.2 (Cityfort calculation from the Nov 5, 2026 Nasdaq closing price and the Q3 FY2025 to Q2 FY2026 earnings releases). Those earnings include $0.86 a share from tariff refunds in Q2 FY2026.

Share price
$111.77
Market value (market cap)
$12.4B
P/E
9.2×

More price-based ratios · as of Nov 5, 2026

Each ratio divides a number from the company's filings by the market value or share price on Nov 5, 2026. Prices change daily, so these ratios do too.

Shares used for the market value: 110.71 million ($111.77 × 110.71 million shares ≈ $12.4B). Source: Form 10-Q, Q2 fiscal 2026 (quarter ended Aug 2, 2026); Form 10-K, fiscal 2025 (ended Feb 1, 2026); Schedule 13D/A (Amendment No. 25) by Dennis J. Wilson and affiliates (event Sep 1, 2026)

Source: LULU historical quotes, Nasdaq, Oct 20 to Nov 5, 2026 (close Nov 5, 2026: $111.77); Form 10-Q, Q2 fiscal 2026 (quarter ended Aug 2, 2026); Form 10-K, fiscal 2025 (ended Feb 1, 2026) and 4 more

Sources (8)
24How it got here

24How it got here

How did Lululemon get here?

  1. 1998

    Milestone

    Founded by Chip Wilson

    Chip Wilson founded Lululemon in 1998 and was its CEO until December 2005.

  2. 2007

    Milestone

    Public listing

    Lululemon went public in July 2007.

  3. 2015

    Milestone

    Founder leaves the board

    Wilson stepped down as chair in December 2013 and left the board in February 2015.

  4. 2020

    Business-model change

    MIRROR bought for at-home fitness

    Lululemon paid $452.6 million net of cash for MIRROR, later renamed lululemon Studio.

  5. 2022

    Crisis

    lululemon Studio written down

    FY2022 included a $407.9 million impairment and $62.9 million of inventory write-downs for lululemon Studio, and FY2023 $74.5 million more of impairment and restructuring.

  6. 2023

    Milestone

    Segments by region

    From Q4 FY2023 Lululemon reports three regional segments (Americas, China Mainland and Rest of World) instead of sales channels.

  7. 2024

    Milestone

    Mexico stores bought

    On Sep 10, 2024 Lululemon bought its 14 Mexico stores from its licensee for $154.1 million net of cash.

  8. 2025

    Crisis

    Tariffs and a CEO change

    FY2025 gross margin fell to 56.6% from 59.2%; the company cites tariffs and the end of the US de minimis exemption. On Dec 11, 2025 Lululemon said CEO Calvin McDonald would step down on Jan 31, 2026.

  9. 2026

    Crisis

    Proxy contest settled

    After Wilson's Dec 29, 2025 notice to nominate directors, the company and Wilson signed a cooperation agreement on May 26, 2026.

  10. 2026

    Business-model change

    Heidi O'Neill becomes CEO

    O'Neill, formerly of Nike, became CEO on Sep 8, 2026, five days after Lululemon lowered its FY2026 revenue outlook a second time.

Sources (10)

25Sources and changes

Where every number on this page comes from

Sources (34 documents)
  1. S1Form 10-K, fiscal 2025 (ended Feb 1, 2026) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 17, 2026
  2. S2Form 10-K, fiscal 2024 (ended Feb 2, 2025) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 27, 2025
  3. S3Form 10-K, fiscal 2023 (ended Jan 28, 2024) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 21, 2024
  4. S4Form 10-K, fiscal 2022 (ended Jan 29, 2023) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 28, 2023
  5. S5Form 10-Q, Q2 fiscal 2026 (quarter ended Aug 2, 2026) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Sep 3, 2026
  6. S6Form 10-Q, Q1 fiscal 2026 (quarter ended May 3, 2026) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jun 4, 2026
  7. S8Q2 fiscal 2026 earnings release (8-K Ex. 99.1, Sep 3, 2026) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Sep 3, 2026
  8. S9Q1 fiscal 2026 earnings release (8-K Ex. 99.1, Jun 4, 2026) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jun 4, 2026
  9. S10Q4 and fiscal 2025 earnings release (8-K Ex. 99.1, Mar 17, 2026) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 17, 2026
  10. S11Q3 fiscal 2025 earnings release (8-K Ex. 99.1, Dec 11, 2025) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Dec 11, 2025
  11. S12Q2 fiscal 2025 earnings release (8-K Ex. 99.1, Sep 4, 2025) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Sep 4, 2025
  12. S13Q1 fiscal 2025 earnings release (8-K Ex. 99.1, Jun 5, 2025) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jun 5, 2025
  13. S14Q4 and fiscal 2024 earnings release (8-K Ex. 99.1, Mar 27, 2025) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 27, 2025
  14. S15Q3 fiscal 2024 earnings release (8-K Ex. 99.1, Dec 5, 2024) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Dec 5, 2024
  15. S162026 proxy statement (DEFC14A, contested annual meeting Jun 25, 2026) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 18, 2026
  16. S17Schedule 13D/A (Amendment No. 25) by Dennis J. Wilson and affiliates (event Sep 1, 2026) · Dennis J. Wilson (SEC EDGAR) · Tier 1: company or exchange filing · Sep 3, 2026
  17. S18Schedule 13G/A (Amendment No. 5) by BlackRock, Inc. (as of Sep 30, 2026) · BlackRock, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 27, 2026
  18. S19Schedule 13G by Vanguard Capital Management (as of Mar 31, 2026) · Vanguard Capital Management (SEC EDGAR) · Tier 1: company or exchange filing · Apr 28, 2026
  19. S20Schedule 13G/A (Amendment No. 12) by The Vanguard Group (0%, event Mar 13, 2026) · The Vanguard Group (SEC EDGAR) · Tier 1: company or exchange filing · Mar 27, 2026
  20. S21Form 8-K, Items 2.02, 5.02, 8.01: CEO Calvin McDonald to step down Jan 31, 2026; interim co-CEOs; $1.0B buyback increase · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Dec 11, 2025
  21. S22Form 8-K, Item 5.02: Heidi O'Neill to become CEO effective Sep 8, 2026 · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 22, 2026
  22. S23Form 8-K, Item 1.01: Cooperation Agreement with Dennis J. "Chip" Wilson (May 26, 2026) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 27, 2026
  23. S24Form 8-K, Items 5.02, 5.07: 2026 annual meeting results; Laura Gentile and Marc Maurer join board · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jun 26, 2026
  24. S25Form 8-K, Items 5.02, 5.03: Heidi O'Neill starts as CEO and joins board; bylaw amendments (Sep 8, 2026) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Sep 14, 2026
  25. S26Form 8-K, Item 5.02: new President and Chief Product Officer and COO; two officer departures (Sep 30, 2026) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 7, 2026
  26. S27Form 8-K, Item 5.02: Tara Poseley joins board under cooperation agreement (Oct 19, 2026) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 22, 2026
  27. S28Form 8-K, Items 1.01, 2.03: $600M Second Amended and Restated Credit Agreement (Oct 15, 2025) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 21, 2025
  28. S29Form 8-K, Item 5.02: Andre Maestrini appointed President and Chief Commercial Officer (Nov 21, 2025) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 21, 2025
  29. S30Form 8-K, Item 5.02: Chip Bergh joins board; David Mussafer to retire (Mar 13, 2026) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 17, 2026
  30. S31Form 8-K, Item 5.02: Esi Eggleston Bracey joins board; Shane Grant to retire (Apr 26, 2026) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 28, 2026
  31. S32Form 8-K, Item 8.01: Chief AI & Technology Officer Ranju Das departs (Aug 13, 2026) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 13, 2026
  32. S33Form 8-K, Item 8.01: response to Dennis J. Wilson notice to nominate directors (Dec 29, 2025) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Dec 29, 2025
  33. S34Form 8-K, Item 7.01: Q4 fiscal 2025 expectations update ahead of ICR conference (Ex. 99.1, Jan 12, 2026) · lululemon athletica inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jan 12, 2026
  34. S35LULU historical quotes, Nasdaq, Oct 20 to Nov 5, 2026 (close Nov 5, 2026: $111.77) · Nasdaq, Inc. · Tier 1: company or exchange filing · Nov 5, 2026
Changes to this page (v1 · Nov 6, 2026)
  1. v1 · Nov 6, 2026First version, through Q2 FY2026 (quarter ended Aug 2, 2026). (first version)

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