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U.S. COMPANY FILING

lululemon athletica inc. — Form 10-K filed 2026-03-17

Filed: 2026-03-17Company: lululemon athletica inc.Ticker: LULUExchange: NasdaqForm: 10-KReport period: 2026-02-01SEC accession: 0001397187-26-000020Event: earningsMateriality: 85

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lululemon's fiscal 2025 net revenue grew 5% to $11.1 billion, but gross margin fell 260 bps to 56.6% and operating margin declined 380 bps to 19.9% due to U.S. tariffs and de minimis removal. Americas revenue decreased 1%, while China Mainland and Rest of World grew 29% and 16%, respectively. Diluted EPS dropped 9% to $13.26. The company repurchased $1.2 billion of shares and increased buyback authorization by $1.0 billion. Management expects continued margin pressure in 2026.

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