Filing Flows › lululemon athletica (LULU) › Q1 FY27 › vs Q4 FY26
lululemon athletica (LULU) Q1 FY27 vs Q4 FY26 (quarter over quarter)
lululemon athletica's revenue fell $1.2B (-32%) from $3.6B in Q4 FY26 to $2.5B in Q1 FY27. The biggest changes: Women's apparel −$665M (-29%); Men's apparel −$316M (-35%); Accessories and other categories −$188M (-40%). Gross margin 54.2% against 54.9% (-0.7 pts).
lululemon athletica, Q1 FY27: revenue $2.5B (+4% year over year), operating margin 11.2%, net earnings $195M, operating cash flow $214M. The chart draws each line against Q4 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q4 FY26 | Change | |
|---|---|---|---|
| Gross margin | 54.2% | 54.9% | -0.7 pts |
| Operating margin | 11.2% | 22.3% | -11.1 pts |
| Net margin | 7.9% | 16.1% | -8.2 pts |
| Free cash flow margin | 3.5% | 26.4% | -22.8 pts |
Every line
| Line | Q1 FY27 | Q4 FY26 | Change | % |
|---|---|---|---|---|
| Women's apparel | $1.6B | $2.3B | −$665M | -29% |
| Men's apparel | $582M | $898M | −$316M | -35% |
| Accessories and other categories | $287M | $475M | −$188M | -40% |
| Revenue | $2.5B | $3.6B | −$1.2B | -32% |
| Gross profit | $1.3B | $2.0B | −$659M | -33% |
| Cost of revenue | $1.1B | $1.6B | −$510M | -31% |
| Other income, net | $9.1M | $975K | $8.2M | +837% |
| Operating profit | $277M | $812M | −$535M | -66% |
| Operating expenses | $1.1B | $1.2B | −$124M | -10% |
| Pre-tax earnings | $286M | $813M | −$527M | -65% |
| Net earnings | $195M | $587M | −$392M | -67% |
| Income tax | $91.0M | $226M | −$135M | -60% |
| Depreciation & amortization | $135M | $135M | $810K | +0.6% |
| Share-based compensation | $29.2M | $24.4M | $4.8M | +20% |
| Working capital & other | $145M | −$397M | $542M | — |
| Operating cash flow | $214M | $1.1B | −$928M | -81% |
| Free cash flow (OCF − capex) | $87.1M | $960M | −$873M | -91% |
| Capital expenditures | $127M | $183M | −$55.8M | -30% |
Questions
How much did lululemon athletica's revenue grow quarter over quarter in Q1 FY27?
lululemon athletica's revenue fell $1.2B (-32%) from $3.6B in Q4 FY26 to $2.5B in Q1 FY27.
What drove lululemon athletica's revenue change in Q1 FY27?
Women's apparel −$665M (-29%); Men's apparel −$316M (-35%); Accessories and other categories −$188M (-40%).