Lululemon Athletica Inc

LULU: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Lululemon Earnings: Brand Intact Despite Sales Miss and Disappointing Outlook; Shares Attractive

David Swartz

Sep 5, 2025

Lululemon's second-quarter sales increased 7% but Americas (70% of total) same-store sales fell 4%. The firm's gross margin fell 110 basis points to 58.5% on higher markdowns and tariffs, and its operating margin dropped to 20.7% from 22.8%. More significantly, full-year guidance was reduced.

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Lululemon Athletica Inc

Lululemon Earnings: Brand Intact Despite Sales Miss and Disappointing Outlook; Shares Attractive

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