Key Takeaways lululemon cut its fiscal 2025 revenue and EPS guidance on U.S. weakness and rising tariff costs.Product cycle missteps hurt core categories, but the latest launches aim to spark renewed customer engagement.International growth remained strong, led by a 25% revenue rise in China and 19% in the Rest of World.lululemon athletica inc. (LULU) has long been synonymous with premium athleisure, but its latest earnings call shows a brand recalibrating its growth story. In second-quarter fiscal 2025, EP ...

Lululemon Athletica (LULU) Q2 2026 Earnings Call September 04, 2025 04:30 PM ET Company ParticipantsHoward Tubin - VP - IRCalvin McDonald - CEO & DirectorMeghan Frank - CFOAlex Straton - MD - Equity ResearchBrooke Roach - VP - Equity ResearchJay Sole - Managing DirectorPaul Lejuez - Managing DirectorSharon Zackfia - Group Head–ConsumerConference Call ParticipantsJanine Stichter - MD, Consumer Retail & Lifestyle Brands AnalystAdrienne Yih - MD & Consumer Discretionary AnalystMatt Boss - Equity Research Analy ...

Lululemon Athletica (LULU) Q2 2026 Earnings Call September 04, 2025 04:30 PM ET Speaker6Thank you for standing by. This is the conference operator. Welcome to the Lululemon Athletica Inc. Second Quarter 2025 Financial Results Conference Call. As a reminder, all participants are in listen-only mode, and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. Analysts who wish to join the question queue may press *1 on their telephone keypad. Should you need as ...

Financial Data and Key Metrics Changes - For Q2 2025, total net revenue rose 7% to $2.5 billion, with comparable sales increasing by 1% [27][28] - Gross profit was $1.48 billion, representing 58.5% of net revenue, a decrease from 59.6% in Q2 2024 [28][29] - Net income for the quarter was $371 million, or $3.10 per diluted share, compared to $3.15 in the same period last year [30] Business Line Data and Key Metrics Changes - Men's revenue increased by 6%, women's by 5%, and accessories and other grew by 15% [28] - The casual segment, which constitutes about 40% of the assortment, is experiencing fatigue, particularly in core franchises like Scuba and SoftStream [49][56] - Performance apparel continues to grow, with strong sales across key activities such as yoga, run, and train [12][20] Market Data and Key Metrics Changes - In China, total revenue increased by 25%, with comparable sales up by 16% [28][20] - The Americas saw revenue growth of 1%, with comparable sales down by 3% [27][28] - The rest of the world segment grew by 19%, with comparable sales increasing by 9% [28] Company Strategy and Development Direction - The company is focusing on increasing the number and frequency of new styles in its product assortment, aiming to raise new styles from 23% to 35% by spring 2026 [17][19] - A new Chief AI and Technology Officer has been appointed to enhance product innovation and agility [19] - The company plans to navigate increased costs from tariffs through strategic pricing and supply chain initiatives [26][22] Management's Comments on Operating Environment and Future Outlook - Management expressed dissatisfaction with current U.S. results and acknowledged the need for a reset in product offerings [6][24] - The company expects revenue growth of 4%-6% for the year, with a decline of 1%-2% in the U.S. market [23][32] - Management remains optimistic about international growth, particularly in China, where they anticipate continued strong performance [20][24] Other Important Information - The company ended Q2 with $1.16 billion in cash and cash equivalents, and inventory increased by 21% to $1.7 billion [31] - Capital expenditures for the quarter were approximately $178 million, reflecting timing of store openings [31] Q&A Session Summary Question: Insights on product department changes and impact on sales - Management highlighted a focus on performance activities and new styles in lounge and social categories, with two new items launching in the back half of the year [48] Question: Impact of recent tariff increases on pricing strategy - The company is implementing modest price increases on a small portion of its assortment and is pleased with the initial results [52] Question: Context on casual segment performance and timeline for new innovations - Management indicated that the casual segment is about 40% of the mix, with new styles expected to offset current pressures [49][63] Question: Supply chain initiatives and lead time improvements - The company is working to improve lead times and agility in its supply chain processes, with a focus on vendor partnerships [68] Question: Marketing strategy and brand engagement - Management plans to maintain current marketing spend as a percentage of revenue while focusing on grassroots community engagement [71] Question: Annualized impact of tariffs and pricing as a mitigation tool - The CFO noted that pricing will be a significant part of the mitigation strategy, alongside expense actions [76]

Key Takeaways lululemon's women's revenues rose 7% in 1Q25, driven by strong demand across core franchises.Margin headwinds stem from tariffs, higher occupancy, FX losses and increased SG&A spending.Launches like No Line Align show robust demand, but cost controls and pricing moves are vital.lululemon athletica inc.’s (LULU) women’s business remains at the core of its brand identity and long-term growth strategy. The company continues to see strong traction across women’s franchises, including Align, Daydri ...

Company Overview - lululemon athletica inc. is focusing on category expansion to drive growth in a maturing U.S. athleisure market, reporting only 1% comparable store sales growth and 2% U.S. revenue growth in Q1 fiscal 2025 [2][10] - The brand is gaining market share in premium activewear, supported by positive consumer response to new product offerings [2] Product Innovation - Innovations such as the No Line Align and new lines like Daydrift and BeCalm are broadening lululemon's appeal beyond core products, emphasizing product newness and technical solutions across five key activities: yoga, run, train, golf, and tennis [3][10] - The company is shifting its merchandise mix from seasonal colors to silhouettes that provide differentiated value, optimizing its product offerings [4] Market Strategy - lululemon is focusing on franchise development and scaling successful limited-distribution launches, while also adjusting inventory, pricing, and assortment to adapt to market changes [4][5] - The brand is experiencing significant international growth, with sales in China increasing by 22% and 17% growth in other global markets, indicating potential for expansion outside North America [5][10] Competitive Landscape - lululemon's competitors, including NIKE and Under Armour, are facing challenges in a saturated athleisure market, with NIKE reporting a 12% revenue decline and Under Armour experiencing a 10% sales drop in North America [6][7][8] - The competitive pressure is prompting these companies to refocus on core sports and performance segments, which may impact their athleisure offerings that overlap with lululemon [7][8] Financial Performance - lululemon's shares have declined by 40.9% year to date, compared to a 26.4% decline in the industry [9] - The Zacks Consensus Estimate for lululemon's fiscal 2025 earnings suggests a year-over-year decline of 1%, while fiscal 2026 estimates indicate an 8.3% growth [12]

作者丨 Amrita Roy 编译 | 华尔街大事件 尽管 lululemon（ NADAQ： LULU ）基本面强劲且增长目标可实现，但 鉴于关税风险加大和收益率上升，上涨潜力有限，这可能会影响该公 司的增长计划。该公司于3月底公布了 2024财年第四季度财报 ，其营收和盈利均超出预期，这得益于其美国市场的增长趋于稳定，同时其国际 市场的增长势头也持续保持，尤其是在产品创新方面，该公司通过品牌宣传活动、专属会员活动以及新店开设等方式，加倍提升客户体验。 然而，投资者选择忽略其强劲的第四季度业绩，而将目光投向2025财年。根据管理层的指引，由于外汇和关税相关的不利因素，预计2025财年 的收入和盈利增长将放缓，而不断增长的库存引发了人们对未来利润压力加剧的担忧。 因此，最糟糕的情况可能已经反映在价格中 lululemon 的股价 在过去一个月中经历了对其收入和盈利预期的一系列 负面修正。 此外，管理层将能够推动其 Power of Three x2 的三大支柱的增长，即国际扩张、产品创新和客户体验，从而提高其运营地区的每用户平均收入 并提高盈利能力。因此，FENXS 将把该股评级上调至当前水平的"买入"，目标 ...