Filing Flows › lululemon athletica (LULU) › Q1 FY26
lululemon athletica (LULU) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Jun 5, 2025
lululemon athletica (LULU) reported revenue of $2.4B for the first quarter fiscal 2026 (Q1 FY26), +7% from a year earlier and -34% from the quarter before. Operating margin was 18.5%, net earnings $315M (13.3% of revenue).
lululemon athletica, Q1 FY26: revenue $2.4B (+7% year over year), operating margin 18.5%, net earnings $315M, operating cash flow −$119M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.4B | -34% | +7% |
| Gross profit | $1.4B | -37% | +8% |
| Operating profit | $439M | -58% | +1% |
| Net earnings | $315M | -58% | -2% |
| Operating cash flow | −$119M | -108% | — |
What changed
Revenue was $2.4B in Q1 FY26, up 7% year over year and down 34% from the previous quarter. Women's apparel was the largest line at 65% of revenue. Women's apparel added $0.10B year over year (up 7%), 62% of the total change.
Gross margin was 58.3%, up 0.6 points from a year earlier. Operating profit was $0.44B, a 18.5% margin (down 1.1 points year over year). Of the extra revenue versus a year earlier, 4% reached operating profit, below the 20% margin then. Operating expenses grew 12% against revenue growth of 7%. Net earnings were $0.31B, down 2% year over year. The effective tax rate was 30.2%.
Operating cash flow was −$0.12B. Non-cash charges added back $0.11B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.57B. Capital expenditures of $0.15B exceeded it, leaving free cash flow of −$0.27B.
Questions
What was lululemon athletica's revenue in the first quarter fiscal 2026?
lululemon athletica (LULU) reported revenue of $2.4B for the first quarter fiscal 2026 (Q1 FY26), +7% from a year earlier and -34% from the quarter before.
Was lululemon athletica profitable in the first quarter fiscal 2026?
Operating profit was $439M (18.5% of revenue) and net earnings $315M.