lululemon athletica inc.

For the period ended May 3, 2026. Filed Jun 4, 2026.

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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.

May 3, 2026 · Filed Jun 4, 2026

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

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Segmented Information

Note 11. 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. During 2025, the Company's then-chief executive officer ("CEO"), served as CODM. Effective January 31, 2026, the former CEO stepped down, and the Company's chief financial officer and its president and chief commercial officer were appointed as interim co-CEOs and together perform the CODM function during the interim period. On April 21, 2026, the Company entered into an employment agreement to appoint a new CEO effective September 8, 2026. 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	$1,621,210	$478,395	$371,998	$2,471,603		$—	$2,471,603
Product costs(2)	545,559	100,558	100,328	746,445		—	746,445
Other cost of sales(2)	183,972	63,556	72,009	319,537		66,803	386,340
Selling, general and administrative expenses	483,199	111,212	130,238	724,649		335,339	1,059,988
Amortization of intangible assets	—	—	—	—		1,884	1,884
Income from operations	$408,480	$203,069	$69,423	$680,972		$(404,026)	$276,946
Other income (expense), net					9,131
Income before income tax expense					$286,077
Supplemental information:
Depreciation and amortization(3)	$62,254	$11,990	$10,538	$84,782		$50,553	$135,335

Americas · China Mainland · Rest of World · Total Segments · Corporate(1) · Total
(In thousands)
Net revenue	$1,674,558	$368,101	$328,001	$2,370,660		$—	$2,370,660
Product costs(2)	480,820	81,815	90,264	652,899		—	652,899
Other cost of sales(2)	156,647	50,273	58,471	265,391		69,244	334,635
Selling, general and administrative expenses	447,760	82,378	106,410	636,548		306,323	942,871
Amortization of intangible assets	—	—	—	—		1,630	1,630
Income from operations	$589,331	$153,635	$72,856	$815,822		$(377,197)	$438,625
Other income (expense), net					11,786
Income before income tax expense					$450,411
Supplemental information:
Depreciation and amortization(3)	$51,441	$8,576	$8,712	$68,729		$45,800	$114,529

(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, hemming costs and other product alteration costs, and product-related royalties paid to third parties. 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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