Filing Flows › lululemon athletica (LULU) › Q1 FY27
lululemon athletica (LULU) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Jun 4, 2026
lululemon athletica (LULU) reported revenue of $2.5B for the first quarter fiscal 2027 (Q1 FY27), +4% from a year earlier and -32% from the quarter before. Operating margin was 11.2%, net earnings $195M (7.9% of revenue).
lululemon athletica, Q1 FY27: revenue $2.5B (+4% year over year), operating margin 11.2%, net earnings $195M, operating cash flow $214M. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.5B | -32% | +4% |
| Gross profit | $1.3B | -33% | -3% |
| Operating profit | $277M | -66% | -37% |
| Net earnings | $195M | -67% | -38% |
| Operating cash flow | $214M | -81% | — |
| Free cash flow | $87.1M | -91% | — |
What changed
Revenue was $2.5B in Q1 FY27, up 4% year over year and down 32% from the previous quarter. Women's apparel was the largest line at 65% of revenue. Women's apparel added $0.07B year over year (up 4%), 67% of the total change. Accessories and other categories declined 1%.
Gross margin was 54.2%, down 4.2 points from Q1 FY26. Operating profit was $0.28B, a 11.2% margin (down 7.3 points year over year). Operating profit fell $0.16B even though revenue rose $0.10B versus Q1 FY26, so costs grew faster than sales. Operating expenses grew 12% against revenue growth of 4%. Net earnings were $0.20B, down 38% year over year. The effective tax rate was 31.8%.
Operating cash flow was $0.21B, 110% of net earnings. Non-cash charges added back $0.14B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.15B. Capital expenditures of $0.13B left free cash flow of $0.09B.
Questions
What was lululemon athletica's revenue in the first quarter fiscal 2027?
lululemon athletica (LULU) reported revenue of $2.5B for the first quarter fiscal 2027 (Q1 FY27), +4% from a year earlier and -32% from the quarter before.
Was lululemon athletica profitable in the first quarter fiscal 2027?
Operating profit was $277M (11.2% of revenue) and net earnings $195M.