Lululemon Athletica Inc. Reports Q4 and Fiscal 2025 Results

Headline Results for Q4 and Full Year 2025 In the fourth quarter of 2025, Lululemon’s net revenue rose 1% to $3.6 billion, with flat growth on a constant currency basis, as Americas revenue fell 4% while international revenue jumped 17%.

Comparable sales increased 3% overall, including a 1% decline in the Americas and a 20% gain internationally.

Gross profit for the quarter declined 8% to $2.0 billion, with gross margin contracting 550 basis points to 54.9%, while income from operations fell 22% to $812.3 million, compressing operating margin by 660 basis points to 22.3%.

Diluted EPS came in at $5.01, down from $6.14 a year earlier, even as the company repurchased 1.4 million shares for $269.1 million and opened 15 net new stores, ending the year with 811 company operated locations.​ For the full 2025 fiscal year, net revenue increased 5% to $11.1 billion, powered by 22% international growth against a 1% decline in Americas revenue…