lululemon athletica inc.

For the period ended Aug 2, 2026. Filed Sep 3, 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.

Aug 2, 2026 · Filed Sep 3, 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	$1,616,772	$407,095	$391,764	$2,415,631		$—	$2,415,631
Product costs(2)	376,770	89,073	115,136	580,979		—	580,979
Other cost of sales(2)	190,694	56,326	72,554	319,574		53,200	372,774
Selling, general and administrative expenses	454,895	110,426	129,101	694,422		311,910	1,006,332
Amortization of intangible assets	—	—	—	—		1,893	1,893
Income from operations	$594,413	$151,270	$74,973	$820,656		$(367,003)	$453,653
Other income (expense), net					13,698
Income before income tax expense					$467,351
Supplemental information:
Depreciation and amortization(3)	$65,757	$11,144	$11,092	$87,993		$54,339	$142,332

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)	515,473	92,219	108,449	716,141		—	716,141
Other cost of sales(2)	158,390	51,139	63,200	272,729		59,147	331,876
Selling, general and administrative expenses	464,960	97,050	121,212	683,222		268,436	951,658
Amortization of intangible assets	—	—	—	—		1,730	1,730
Income from operations	$619,394	$152,490	$81,243	$853,127		$(329,313)	$523,814
Other income (expense), net					9,737
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	$3,237,982	$885,490	$763,762	$4,887,234		$—	$4,887,234
Product costs(2)	922,329	189,631	215,464	1,327,424		—	1,327,424
Other cost of sales(2)	374,666	119,882	144,563	639,111		120,003	759,114
Selling, general and administrative expenses	938,094	221,638	259,339	1,419,071		647,249	2,066,320
Amortization of intangible assets	—	—	—	—		3,777	3,777
Income from operations	$1,002,893	$354,339	$144,396	$1,501,628		$(771,029)	$730,599
Other income (expense), net					22,829
Income before income tax expense					$753,428
Supplemental information:
Depreciation and amortization(3)	$128,011	$23,134	$21,630	$172,775		$104,892	$277,667

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)	996,293	174,034	198,713	1,369,040		—	1,369,040
Other cost of sales(2)	315,037	101,412	121,671	538,120		128,391	666,511
Selling, general and administrative expenses	912,720	179,428	227,622	1,319,770		574,759	1,894,529
Amortization of intangible assets	—	—	—	—		3,360	3,360
Income from operations	$1,208,725	$306,125	$154,099	$1,668,949		$(706,510)	$962,439
Other income (expense), net					21,523
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

(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. International Emergency Economic Power Act ("IEEPA") tariff refunds of $134.5 million during the second quarter of 2026 are included within product costs in the Americas. 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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