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๐ ๐๐๐ฌ๐ฎ๐ฅ๐ญ๐ฌ
โข Revenue: $2.4B (Est. $2.46B) โ, -4% YoY.
โข Diluted EPS: $2.92, including a $0.86 benefit from tariff refunds and associated interest.
โข Comparable Sales: -9%, or -10% in constant currency.
โข Americas Revenue: -8% YoY; International Revenue: +4%.
โข Gross Margin: 60.5%, +200 bps YoY, including a 560 bps benefit from tariff refunds.
โข Operating Income: $453.7M, -13% YoY, with operating margin down 190 bps to 18.8%.
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๐ฏ ๐๐ฎ๐ข๐๐๐ง๐๐
โข Q3 FY2026 Revenue: $2.29Bโ$2.32B (Est. $2.54B) โ
โข Q3 FY2026 Diluted EPS: $0.93โ$0.98.
โข FY2026 Revenue: $10.35Bโ$10.50B (Est. $11.03B) โ, reduced.
โข FY2026 Diluted EPS: $9.48โ$9.73, reduced.
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๐ ๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ
โข Revenue declined 4% YoY and came in below consensus, while comparable sales fell 9% as weakness remained concentrated in the Americas.
โข Americas comparable sales dropped 12%, while International comparable sales declined 3%.
โข Reported profitability received a significant boost from $134.5M of tariff refunds, which added 560 bps to gross and operating margins and $0.86 to diluted EPS.
โข Q3 revenue guidance came in well below consensus, implying a 10% to 11% YoY decline.
โข Lululemon reduced its full-year revenue and EPS outlook as management takes a more cautious view amid challenging operating conditions.
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๐ฌ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ฆ๐๐ง๐ญ๐๐ซ๐ฒ
โWhile we continue to navigate some challenging dynamics, we are taking a prudent approach with our revised full-year outlook.โ