Filing Flows › lululemon athletica (LULU) › Q2 FY27
lululemon athletica (LULU) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Sep 3, 2026
lululemon athletica (LULU) reported revenue of $2.4B for the second quarter fiscal 2027 (Q2 FY27), -4% from a year earlier and -2% from the quarter before. Operating margin was 18.8%, net earnings $329M (13.6% of revenue).
lululemon athletica, Q2 FY27: revenue $2.4B (-4% year over year), operating margin 18.8%, net earnings $329M, operating cash flow $375M. The chart follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.4B | -2% | -4% |
| Gross profit | $1.5B | +9% | -1% |
| Operating profit | $454M | +64% | -13% |
| Net earnings | $329M | +69% | -11% |
| Operating cash flow | $375M | +75% | +14% |
| Free cash flow | $225M | +159% | +49% |
What changed
Revenue was $2.4B in Q2 FY27, down 4% year over year and down 2% from the previous quarter. Women's apparel was the largest line at 62% of revenue. Women's apparel lost $0.06B year over year (down 4%), 54% of the total change.
Gross margin was 60.5%, up 2.0 points from Q2 FY26. Operating profit was $0.45B, a 18.8% margin (down 2.0 points year over year). Operating expenses grew 6% against a revenue fall of 4%. Net earnings were $0.33B, down 11% year over year. The effective tax rate was 29.6%.
Operating cash flow was $0.37B (up 14% year over year), 114% of net earnings. Non-cash charges added back $0.14B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.12B. Capital expenditures of $0.15B left free cash flow of $0.23B.
Questions
What was lululemon athletica's revenue in the second quarter fiscal 2027?
lululemon athletica (LULU) reported revenue of $2.4B for the second quarter fiscal 2027 (Q2 FY27), -4% from a year earlier and -2% from the quarter before.
Was lululemon athletica profitable in the second quarter fiscal 2027?
Operating profit was $454M (18.8% of revenue) and net earnings $329M.