$LULU

lululemon athletica inc.

CIK:0001397187|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2026	Aug. 03, 2025	Aug. 02, 2026	Aug. 03, 2025
Income Statement [Abstract]
Net revenue	$ 2,415,631	$ 2,525,219	$ 4,887,234	$ 4,895,879
Cost of goods sold	953,753	1,048,017	2,086,538	2,035,551
Gross profit	1,461,878	1,477,202	2,800,696	2,860,328
Selling, general and administrative expenses	1,006,332	951,658	2,066,320	1,894,529
Amortization of intangible assets	1,893	1,730	3,777	3,360
Income from operations	453,653	523,814	730,599	962,439
Other income (expense), net	13,698	9,737	22,829	21,523
Income before income tax expense	467,351	533,551	753,428	983,962
Income tax expense	138,128	162,646	229,157	298,485
Net income	329,223	370,905	524,271	685,477
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(76,329)	4,707	(64,342)	174,479
Net investment hedge gains (losses)	25,289	790	26,604	(81,263)
Other comprehensive income (loss), net of tax	(51,040)	5,497	(37,738)	93,216
Comprehensive income	$ 278,183	$ 376,402	$ 486,533	$ 778,693
Basic earnings per share (in dollars per share)	$ 2.92	$ 3.10	$ 4.59	$ 5.71
Diluted earnings per share (in dollars per share)	$ 2.92	$ 3.10	$ 4.59	$ 5.70
Basic weighted-average number of shares outstanding (in shares)	112,898	119,600	114,156	120,116
Diluted weighted-average number of shares outstanding (in shares)	112,919	119,680	114,201	120,262

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Aug. 02, 2026	Aug. 03, 2025
Cash flows from operating activities
Net income	$ 524,271	$ 685,477
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	277,667	234,244
Stock-based compensation expense	50,275	21,247
Settlement of derivatives not designated in a hedging relationship	(8,295)	(11,921)
Changes in operating assets and liabilities:
Accounts receivable	20,370	(15,929)
Inventories	(14,350)	(237,903)
Prepaid and receivable income taxes	(132,203)	(140,974)
Prepaid expenses and other current assets	16,308	69,037
Other non-current assets	(40,626)	(33,330)
Accounts payable	21,715	91,154
Accrued liabilities and other	(72,446)	(131,640)
Accrued compensation and related expenses	(63,487)	(61,249)
Current income taxes payable	22,805	(165,214)
Unredeemed gift card liability	(37,628)	(59,616)
Right-of-use lease assets and current and non-current lease liabilities	25,201	(2,776)
Other current and non-current liabilities	(299)	(30,885)
Net cash provided by operating activities	589,278	209,722
Cash flows from investing activities
Purchase of property and equipment	(277,056)	(330,161)
Settlement of net investment hedges	(2,807)	13,451
Other investing activities	(1,939)	(3,250)
Net cash used in investing activities	(281,802)	(319,960)
Cash flows from financing activities
Proceeds from settlement of stock-based compensation	0	5,478
Taxes paid related to net share settlement of stock-based compensation	(12,369)	(26,514)
Repurchase of common stock	(695,105)	(715,672)
Other financing activities	(4,751)	(8,115)
Net cash used in financing activities	(712,225)	(744,823)
Effect of foreign currency exchange rate changes on cash and cash equivalents	(12,716)	26,519
Decrease in cash and cash equivalents	(417,465)	(828,542)
Cash and cash equivalents, beginning of period	1,807,202	1,984,336
Cash and cash equivalents, end of period	$ 1,389,737	$ 1,155,794

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 02, 2026	Feb. 01, 2026
Current assets
Cash and cash equivalents	$ 1,389,737	$ 1,807,202
Accounts receivable, net	171,164	190,657
Inventories	1,711,450	1,700,753
Prepaid and receivable income taxes	479,948	352,469
Prepaid expenses and other current assets	193,288	211,620
Total current assets	3,945,587	4,262,701
Property and equipment, net	2,046,363	2,033,720
Right-of-use lease assets	1,947,077	1,630,181
Goodwill	185,840	184,911
Intangible assets, net	2,530	6,283
Deferred income tax assets	24,537	24,037
Other non-current assets	332,644	314,910
Total assets	8,484,578	8,456,743
Current liabilities
Accounts payable	346,717	331,421
Accrued liabilities and other	584,912	662,982
Accrued compensation and related expenses	122,747	187,887
Current lease liabilities	366,649	298,724
Current income taxes payable	67,375	43,948
Unredeemed gift card liability	277,318	316,632
Other current liabilities	35,933	45,954
Total current liabilities	1,801,651	1,887,548
Non-current lease liabilities	1,774,478	1,499,717
Deferred income tax liabilities	56,987	52,278
Other non-current liabilities	60,288	55,360
Total liabilities	3,693,404	3,494,903
Commitments and contingencies
Stockholders' equity
Undesignated preferred stock, $0.01 par value: 5,000 shares authorized; none issued and outstanding	0	0
Exchangeable stock, no par value: 60,000 shares authorized; 5,116 and 5,116 issued and outstanding	0	0
Special voting stock, $0.000005 par value: 60,000 shares authorized; 5,116 and 5,116 issued and outstanding	0	0
Common stock, $0.005 par value: 400,000 shares authorized; 106,566 and 111,380 issued and outstanding	533	557
Additional paid-in capital	695,052	669,392
Retained earnings	4,364,017	4,522,581
Accumulated other comprehensive loss	(268,428)	(230,690)
Total stockholders' equity	4,791,174	4,961,840
Total liabilities and stockholders' equity	$ 8,484,578	$ 8,456,743