Filing Flows › lululemon athletica (LULU) › Q2 FY27 › vs Q1 FY27
lululemon athletica (LULU) Q2 FY27 vs Q1 FY27 (quarter over quarter)
lululemon athletica's revenue fell $56.0M (-2%) from $2.5B in Q1 FY27 to $2.4B in Q2 FY27. The biggest changes: Women's apparel −$115M (-7%); Men's apparel +$39.5M (+7%); Accessories and other categories +$19.3M (+7%). Gross margin 60.5% against 54.2% (+6.3 pts).
lululemon athletica, Q2 FY27: revenue $2.4B (-4% year over year), operating margin 18.8%, net earnings $329M, operating cash flow $375M. The chart draws each line against Q1 FY27, the increases inside each band.
Margins
| Q2 FY27 | Q1 FY27 | Change | |
|---|---|---|---|
| Gross margin | 60.5% | 54.2% | +6.3 pts |
| Operating margin | 18.8% | 11.2% | +7.6 pts |
| Net margin | 13.6% | 7.9% | +5.7 pts |
| Free cash flow margin | 9.3% | 3.5% | +5.8 pts |
Every line
| Line | Q2 FY27 | Q1 FY27 | Change | % |
|---|---|---|---|---|
| Women's apparel | $1.5B | $1.6B | −$115M | -7% |
| Men's apparel | $621M | $582M | $39.5M | +7% |
| Accessories and other categories | $306M | $287M | $19.3M | +7% |
| Revenue | $2.4B | $2.5B | −$56.0M | -2% |
| Gross profit | $1.5B | $1.3B | $123M | +9% |
| Cost of revenue | $954M | $1.1B | −$179M | -16% |
| Other income, net | $13.7M | $9.1M | $4.6M | +50% |
| Operating profit | $454M | $277M | $177M | +64% |
| Operating expenses | $1.0B | $1.1B | −$53.6M | -5% |
| Pre-tax earnings | $467M | $286M | $181M | +63% |
| Net earnings | $329M | $195M | $134M | +69% |
| Income tax | $138M | $91.0M | $47.1M | +52% |
| Depreciation & amortization | $142M | $135M | $7.0M | +5% |
| Share-based compensation | $21.1M | $29.2M | −$8.1M | -28% |
| Working capital & other | $118M | $145M | −$27.3M | -19% |
| Operating cash flow | $375M | $214M | $160M | +75% |
| Free cash flow (OCF − capex) | $225M | $87.1M | $138M | +159% |
| Capital expenditures | $150M | $127M | $22.3M | +18% |
Questions
How much did lululemon athletica's revenue grow quarter over quarter in Q2 FY27?
lululemon athletica's revenue fell $56.0M (-2%) from $2.5B in Q1 FY27 to $2.4B in Q2 FY27.
What drove lululemon athletica's revenue change in Q2 FY27?
Women's apparel −$115M (-7%); Men's apparel +$39.5M (+7%); Accessories and other categories +$19.3M (+7%).