lululemon athletica inc.

Company facts

Industry

Apparel & Other Finishd Prods of Fabrics & Similar Matl

Headquarters

Vancouver

Most recent report

8-K, filed Oct 22, 2026

Incorporated

Delaware

Filings on record

1,000+ filings

On EDGAR

CIK 1397187

Fiscal year ends

January

Filer status

Large accelerated filer

What to read: Aug 2026 10-Q

SECSift found 3 of 11 sections worth reading, with 3 positive, 7 notable, and 13 negative flags.

• Financial Statements (Item 1)

  Core financials show revenue decline, earnings drop, large buybacks, litigation, and one-time tariff refund.
  Notable

  • Former CEO stepped down Jan 31, 2026; interim co-CEOs appointed; new CEO effective Sep 8, 2026.
  • Securities class action partially dismissed; derivative actions stayed; two consumer class actions on tariff pricing filed.
  Negative

  • Received $134.5M in IEEPA tariff refunds in Q2 2026, recognized in cost of goods sold, a one-time benefit.

• Management's Discussion (Item 2)

  Revenue and profit down; underlying business weak; tariff refunds mask true trend.
  Positive

  • Gross margin up 200bps to 60.5% but driven by 560bps from tariff refunds; underlying margin down.
  • Tax expense down 15% to $138.1M; lower non-deductible expenses.
  • EATR down 90bps to 29.6%.
  Notable

  • U.S. operating entity named in consumer class actions relating to tariff-related pricing.
  • Q2 2026 includes $13.4M proxy contest costs; YTD $24.8M.
  • Repurchased 4.9M shares for $695.1M in H1 2026 vs 2.5M for $715.7M in H1 2025.
  Negative

  • Revenue down 4% to $2.4B; Americas drove decline.
  • Total comps down 9%; Americas down 12%.
  • Americas comps down 12%: core market weakness.
  • China comps down 2% (8% constant dollar); still weak.
  • RoW comps down 4% (3% constant dollar).
  • Gross profit down 1% to $1.5B even with $134.5M tariff refunds.
  • Operating income down 13% to $453.7M, includes $134.5M refunds.
  • Operating margin down 190bps to 18.8%; refunds added 560bps.
  • EPS down to $2.92 from $3.10; underlying ex-refunds much lower.

• Risk Factors (Item 1A)

  Contains quantified tariff, supply chain, CEO succession, and proxy contest risks.
  Notable

  • Appointed Heidi O'Neill as CEO effective Sep 8, 2026; former CEO stepped down Jan 31, 2026 with interim co-CEOs.
  • Resolved proxy contest with founder Chip Wilson via Cooperation Agreement through 2028; incurred substantial costs.
  Negative

  • Named in class actions over alleged tariff-related pricing. Adds litigation risk.
  • IRS withdrew from bilateral APA negotiations in Aug 2026, increasing transfer pricing audit risk.
  • 40% product from Vietnam, 34% fabric from Taiwan; top 5 vendors 47% product, top 5 fabric suppliers 48%. High geopolitical risk.

What changed: Aug 2026 vs. May 2026

About 16% of LULU's Aug 2026 10-Q is new information. 66 paragraphs were added, 134 changed, and 15 removed. Below are the most important lines SECSift identified.

• Item 2 110
• Item 1 31
• Item 1A 12
• Item 6 8
• Item 3 7
• Item 4 2
• Item 5 1