lululemon athletica inc. (LULU) Form 10-Q — Sep 3, 2026
lululemon's second quarter of fiscal 2026 (ended August 2, 2026) showed net revenue down 4% to $2.42 billion, with comparable sales down 9% and Americas comparable sales down 12%. Diluted EPS was $2.92 versus $3.10 a year earlier, and net income fell 11.2% to $329.2 million as income from operations dropped 13% to $453.7 million. Results were cushioned by a one-time $134.5 million IEEPA tariff refund plus $4.1 million of interest, together worth $0.86 of diluted EPS; excluding that benefit, underlying EPS was roughly $2.06, down about 34% year over year.
Key figures
- Eps
- 2.92
- Revenue
- 2415631000
- Net Income
- 329223000
- Revenue Yoy
- -4%
- Total Assets
- 8484578000
- Cash Position
- 1389737000
- Shares Outstanding
- 105594064
- Inventory
- 1711450000
- Ytd Revenue
- 4887234000
- Inventory Yoy
- -1%
- Ytd Net Income
- 524271000
- Gross Margin Q2
- 60.5% (+200 bps, incl. 560 bps from IEEPA tariff refunds)
- H1 Buyback Cost
- 695100000
- Ytd Diluted Eps
- 4.59
- H1 Buyback Shares
- 4.9 million
- Ieepa Eps Benefit
- $0.86 per diluted share (refund plus interest, net of tax)
- Ieepa Tariffs Paid
- 230000000
- Comparable Sales Q2
- -9% (-10% constant dollar)
- Operating Margin Q2
- 18.8% (-190 bps)
- Effective Tax Rate Q2
- 29.6%
- Post Quarter Buyback
- 1.0 million shares for $118.8 million (Aug 2 to Aug 28, 2026)
- Americas Comp Sales Q2
- -12%
- Ieepa Tariff Refund Q2
- 134500000
- Proxy Contest Costs Ytd
- 24800000
- Ytd Operating Cash Flow
- 589278000
- Company Operated Stores
- 825
- Ieepa Refund Interest Q2
- 4100000
- Income From Operations Q2
- 453653000
- Revolving Credit Facility
- $600.0 million undrawn; matures October 15, 2030
- China Mainland Comp Sales Q2
- -2% (-8% constant dollar)
- Remaining Buyback Authorization
- $712.5 million as of August 2, 2026 (under $4.0 billion program)
Price after filing
Close on the filing date to close N calendar days later (from $120.07). Historical, not a forecast.
AI analysis
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