Short answer
Lululemon Athletica (LULU) filed its Q4 2025 10-Q quarterly report on Dec 11, 2025 for the quarter ended Nov 2, 2025. Quarterly revenue was $2.6B (up 7.1% year over year) with net income of $307M.
Q4 2025 key financials · XBRL
- Revenue
- $2.6B
- +7.1% YoY · +1.6% QoQ
- Net income
- $307M
- −12.8% YoY · −17.3% QoQ
- Operating margin
- 17.0%
- Gross margin
- 55.6%
- EPS (diluted)
- $2.59
- −9.4% YoY · −16.5% QoQ
Source: XBRL data from the Lululemon Athletica (LULU) Q4 2025 10-Q on SEC EDGAR. USD.
Lululemon Athletica Q4 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Total company-operated stores 796, up 29 from 767 last quarter
- US stores 378, increased by 4 from 374 last quarter
- China Mainland stores 165, increased by 14 from 151 last quarter
- Third-party operated locations 43, up 9 from 34 last quarter
- Expansion focused in Americas and APAC regions with notable increases in China and Mexico locations
Risk Factors
- New risk from CEO transition announced December 2025, effective January 31, 2026, with potential operational and reputational disruption during search and interim co-CEOs
- Updated regulatory risk from U.S. tariff increases since April 2025, and elimination of de minimis duty-free exemption effective May 2, 2025, raising product costs and pressuring margins
- Most impactful compliance risk: evolving privacy laws like GDPR, CCPA/CPRA, PIPL requiring costly compliance and risking fines, litigation, and reputational harm from breaches
- Near-term operational risk from supply chain delays and inflation-induced cost pressures, potentially reducing operating margins if price increases reduce consumer demand
- Financial risk around long-term, non-cancelable retail and distribution leases exposing company to fixed costs despite unprofitable stores or unfavorable location shifts
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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