Form 10-Q · Quarterly report
Lululemon Athletica 10-Q, filed Sep 3, 2026
- Filed
- CIK
- 0001397187
- Accession no.
- 0001397187-26-000127
Summary
Lululemon Athletica reported second-quarter 2026 net revenue down 4% to $2.4 billion with comparable sales down 9%, as Americas comparable sales fell 12% while China Mainland and Rest of World comparable sales declined 2% and 4%; diluted EPS of $2.92 included $0.86 per share from $134.5 million of IEEPA tariff refunds and associated interest received after the U.S. Supreme Court invalidated IEEPA tariffs in February 2026. Lululemon said it is pursuing an action plan to restore Americas growth, and that its U.S. operating entity was named as a defendant in purported consumer class actions over alleged tariff-related pricing actions and potential governmental tariff reimbursements.
Key points
- Net revenue decreased 4% to $2.4 billion, and comparable sales decreased 9%, with Americas comparable sales down 12%.
- Diluted earnings per share were $2.92, versus $3.10 a year earlier, including $0.86 per share from IEEPA tariff refunds and associated interest, net of tax.
- The company received $134.5 million of IEEPA tariff refunds and $4.1 million of associated interest in the quarter, after the U.S. Supreme Court invalidated IEEPA tariffs on February 20, 2026; further refund amounts remain uncertain and no asset has been recognized for additional claims.
- Lululemon's U.S. operating entity was named as a defendant in purported consumer class actions relating to alleged tariff-related pricing actions and potential governmental tariff reimbursements.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 2. MANAGEMENT'S DISCUSSION Overview lululemon athletica inc. is principally a designer, distributor, and retailer of technical athletic apparel, footwear, and accessories. Our mission is to inspire the world to sweat, grow, and connect. Since our inception, we have fostered a distinctive corporate culture; we promote a set of core values in our business which include taking personal responsibility, acting with courage, valuing connection and inclusion, and choosing to have fun. …
An excerpt of the text as filed with the SEC, cut for length.
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