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lululemon athletica inc.

For the period ended Aug 3, 2025. Filed Sep 4, 2025.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Aug 3, 2025 · Filed Sep 4, 2025

LULU$110.79-0.9%Stored close · as of Nov 6, 2026

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Segmented Information

Note 10. Segmented Information

The Company's segments are based on the financial information the Chief Operating Decision Maker ("CODM"), who is the Chief Executive Officer, uses to evaluate performance and allocate resources. The CODM approves the annual budget on a segment level, and regularly assesses the performance of the Company's segments using key financial metrics, including net revenue and segmented income from operations.

The Company reports three segments: Americas, China Mainland, and Rest of World, which is comprised of its non-significant operating segments APAC and EMEA reported on a combined basis. The Company does not report capital expenditures and assets by segment as that information is not reviewed by the CODM.

Americas · China Mainland · Rest of World · Total Segments · Corporate(1) · Total
(In thousands)
Net revenue$1,758,217$392,898$374,104$2,525,219$—$2,525,219
Product costs(2)515,47392,219108,449716,141—716,141
Other cost of sales(2)158,39051,13963,200272,72959,147331,876
Selling, general and administrative expenses464,96097,050121,212683,222268,436951,658
Amortization of intangible assets————1,7301,730
Income from operations$619,394$152,490$81,243$853,127$(329,313)$523,814
Other income (expense), net9,737
Income before income tax expense$533,551
Supplemental information:
Depreciation and amortization(3)$54,499$8,871$8,574$71,944$47,771$119,715
Americas · China Mainland · Rest of World · Total Segments · Corporate(1) · Total
(In thousands)
Net revenue$1,741,433$314,189$315,456$2,371,078$—$2,371,078
Product costs(2)493,89571,54790,860656,302—656,302
Other cost of sales(2)150,45846,08451,891248,43354,158302,591
Selling, general and administrative expenses427,65377,47398,705603,831268,128871,959
Income from operations$669,427$119,085$74,000$862,512$(322,286)$540,226
Other income (expense), net17,994
Income before income tax expense$558,220
Supplemental information:
Depreciation and amortization(3)$47,824$7,762$7,407$62,993$40,580$103,573
Americas · China Mainland · Rest of World · Total Segments · Corporate(1) · Total
(In thousands)
Net revenue$3,432,775$760,999$702,105$4,895,879$—$4,895,879
Product costs(2)996,293174,034198,7131,369,040—1,369,040
Other cost of sales(2)315,037101,412121,671538,120128,391666,511
Selling, general and administrative expenses912,720179,428227,6221,319,770574,7591,894,529
Amortization of intangible assets————3,3603,360
Income from operations$1,208,725$306,125$154,099$1,668,949$(706,510)$962,439
Other income (expense), net21,523
Income before income tax expense$983,962
Supplemental information:
Depreciation and amortization(3)$105,940$17,447$17,286$140,673$93,571$234,244
Americas · China Mainland · Rest of World · Total Segments · Corporate(1) · Total
(In thousands)
Net revenue$3,363,697$617,975$598,297$4,579,969$—$4,579,969
Product costs(2)976,190140,222170,9341,287,346—1,287,346
Other cost of sales(2)297,63593,59299,633490,860114,510605,370
Selling, general and administrative expenses855,605145,298187,0491,187,952526,4331,714,385
Income from operations$1,234,267$238,863$140,681$1,613,811$(640,943)$972,868
Other income (expense), net41,277
Income before income tax expense$1,014,145
Supplemental information:
Depreciation and amortization(3)$92,150$15,787$13,913$121,850$77,482$199,332

(1)Corporate includes centrally managed support functions including product design, raw material development, product innovation, sourcing, supply chain, and global merchandising which are included in other cost of sales. Administrative corporate expenses include technology, brand and marketing, finance, human resources, legal, and other head office costs.

(2)Cost of goods sold is made up of product costs and other cost of sales. Product costs include the cost of purchased merchandise, costs incurred to deliver inventory to the Company's distribution centers, shrink and inventory provision expenses, the cost of digital content subscription services, and hemming costs. Other cost of sales includes occupancy and depreciation expense for company-operated stores, distribution center costs, and product department costs.

(3)The amounts of depreciation and amortization disclosed by reportable segment are included within other cost of sales and selling, general and administrative expenses.

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