lululemon athletica inc.

For the period ended Feb 1, 2026. Filed Mar 17, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2026 · Filed Mar 17, 2026

LULU$112.53+1.6%Stored close · as of Nov 9, 2026

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Contents

Segmented Information

Note 24. Segmented Information

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's segments are based on the financial information the Chief Operating Decision Maker ("CODM") uses to evaluate performance and allocate resources. Effective January 31, 2026, the Company's chief executive officer ("CEO") stepped down, and the Company's chief financial officer and its president and chief commercial officer were appointed as interim co-CEOs. The CODM of the Company during 2025 was the CEO, and during the interim period, the interim co-CEOs are the Company's CODM. 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 does not report capital expenditures and assets by segment as that information is not reviewed by the CODM.

The following outlines segmented information:

Americas · China Mainland · Rest of World · Total Segments · Corporate(1) · Total
(In thousands)
Net revenue	$7,847,044	$1,754,799	$1,500,757	$11,102,600		$—	$11,102,600
Product costs(2)	2,585,483	414,504	428,044	3,428,031		—	3,428,031
Other cost of sales(2)	674,020	221,680	255,756	1,151,456		238,981	1,390,437
Selling, general and administrative expenses	2,026,883	417,492	471,056	2,915,431		1,151,125	4,066,556
Amortization of intangible assets	—	—	—	—		6,961	6,961
Income from operations	$2,560,658	$701,123	$345,901	$3,607,682		$(1,397,067)	$2,210,615
Other income (expense), net					28,352
Income before income tax expense					$2,238,967
Supplemental information:
Depreciation and amortization(3)	$224,684	$38,198	$36,585	$299,467		$196,761	$496,228

Americas · China Mainland · Rest of World · Total Segments · Corporate(1) · Total
(In thousands)
Net revenue	$7,928,156	$1,361,337	$1,298,633	$10,588,126		$—	$10,588,126
Product costs(2)	2,336,251	324,237	364,906	3,025,394		—	3,025,394
Other cost of sales(2)	641,699	198,373	217,536	1,057,608		234,313	1,291,921
Selling, general and administrative expenses	1,934,649	328,868	401,245	2,664,762		1,097,617	3,762,379
Amortization of intangible assets	—	—	—	—		2,735	2,735
Income from operations	$3,015,557	$509,859	$314,946	$3,840,362		$(1,334,665)	$2,505,697
Other income (expense), net					70,380
Income before income tax expense					$2,576,077
Supplemental information:
Depreciation and amortization(3)	$204,922	$33,206	$30,872	$269,000		$177,524	$446,524

Americas · China Mainland · Rest of World · Total Segments · Corporate(1) · Total
(In thousands)
Net revenue	$7,631,647	$963,760	$1,023,871	$9,619,278		$—	$9,619,278
Product costs(2)	2,283,490	241,663	316,542	2,841,695		23,709	2,865,404
Other cost of sales(2)	576,810	154,136	171,992	902,938		241,531	1,144,469
Selling, general and administrative expenses	1,834,163	230,645	333,505	2,398,313		998,905	3,397,218
Impairment of assets	—	—	—	—		74,501	74,501
Amortization of intangible assets	—	—	—	—		5,010	5,010
Income from operations	$2,937,184	$337,316	$201,832	$3,476,332		$(1,343,656)	$2,132,676
Other income (expense), net					43,059
Income before income tax expense					$2,175,735
Supplemental information:
Depreciation and amortization(3)	$170,417	$25,746	$23,644	$219,807		$159,577	$379,384

(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. An inventory obsolescence provision in relation to lululemon Studio of $23.7 million in 2023 is included within product costs.

(2)Please refer to Note 2. Summary of Significant Accounting Policies "Cost of goods sold" for a definition of product costs and other cost of sales.

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

Long-lived assets, including property and equipment, net and right-of-use lease assets, by geographic area were as follows:

	February 1, 2026	February 2, 2025
(In thousands)
United States	$2,004,523	$1,788,554
Canada	802,444	675,048
People's Republic of China	400,902	326,621
Other geographic areas	456,032	406,650
	$3,663,901	$3,196,873

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