Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

lululemon athletica inc., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	May 3, 2026	Feb 1, 2026	Nov 2, 2025	Aug 3, 2025	May 4, 2025	Feb 2, 2025	Oct 27, 2024	Jul 28, 2024	Apr 28, 2024	Jan 28, 2024	Oct 29, 2023	Jul 30, 2023	Apr 30, 2023	Jan 29, 2023	Oct 30, 2022	Jul 31, 2022	May 1, 2022	Jan 30, 2022	Oct 31, 2021	Aug 1, 2021	May 2, 2021	Jan 31, 2021	Nov 1, 2020	Aug 2, 2020	May 3, 2020
Net revenue	2,471,603)	3,640,801)	2,565,920)	2,525,219)	2,370,660)	3,611,497)	2,396,660)	2,371,078)	2,208,891)	3,205,103)	2,204,218)	2,209,165)	2,000,792)	2,771,838)	1,856,889)	1,868,328)	1,613,463)	2,129,113)	1,450,421)	1,450,618)	1,226,465)	1,729,549)	1,117,426)	902,942)	651,962)
Cost of goods sold	(1,132,785)	(1,642,913)	(1,140,004)	(1,048,017)	(987,534)	(1,429,545)	(995,054)	(958,893)	(933,823)	(1,301,678)	(947,554)	(910,654)	(849,987)	(1,244,219)	(818,037)	(812,852)	(743,070)	(892,941)	(621,028)	(607,932)	(526,151)	(716,815)	(490,072)	(413,441)	(317,560)
Gross profit	1,338,818)	1,997,888)	1,425,916)	1,477,202)	1,383,126)	2,181,952)	1,401,606)	1,412,185)	1,275,068)	1,903,425)	1,256,664)	1,298,511)	1,150,805)	1,527,619)	1,038,852)	1,055,476)	870,393)	1,236,172)	829,393)	842,686)	700,314)	1,012,734)	627,354)	489,501)	334,402)
Selling, general and administrative expenses	(1,059,988)	(1,183,773)	(988,254)	(951,658)	(942,871)	(1,138,167)	(909,827)	(871,959)	(842,426)	(989,535)	(842,795)	(817,375)	(747,513)	(803,107)	(684,236)	(662,253)	(607,851)	(641,959)	(545,124)	(541,317)	(496,634)	(544,831)	(411,708)	(352,881)	(299,583)
Impairment of assets and restructuring costs	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(74,501)	—)	—)	(407,913)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Amortization of intangible assets	(1,884)	(1,825)	(1,776)	(1,730)	(1,630)	(1,617)	(1,118)	—)	—)	—)	(1,253)	(1,879)	(1,878)	(2,173)	(2,189)	(2,195)	(2,195)	(2,197)	(2,195)	(2,195)	(2,195)	(2,195)	(2,195)	(747)	(23)
Acquisition-related expenses	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(1,460)	(24,127)	(8,143)	(7,664)	(7,802)	(8,531)	(11,464)	(2,045)
Gain on disposal of assets	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	10,180)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Income from operations	276,946)	812,290)	435,886)	523,814)	438,625)	1,042,168)	490,661)	540,226)	432,642)	913,890)	338,115)	479,257)	401,414)	314,426)	352,427)	401,208)	260,347)	590,556)	257,947)	291,031)	193,821)	457,906)	204,920)	124,409)	32,751)
Other income (expense), net	9,131)	975)	5,854)	9,737)	11,786)	15,360)	13,743)	17,994)	23,283)	17,830)	9,842)	7,362)	8,025)	3,709)	331)	145)	(22)	176)	15)	96)	227)	(886)	(580)	(344)	1,174)
Income before income tax expense	286,077)	813,265)	441,740)	533,551)	450,411)	1,057,528)	504,404)	558,220)	455,925)	931,720)	347,957)	486,619)	409,439)	318,135)	352,758)	401,353)	260,325)	590,732)	257,962)	291,127)	194,048)	457,020)	204,340)	124,065)	33,925)
Income tax expense	(91,029)	(226,394)	(134,905)	(162,646)	(135,839)	(309,125)	(152,534)	(165,298)	(134,504)	(262,252)	(99,243)	(145,016)	(119,034)	(198,324)	(97,288)	(111,832)	(70,327)	(156,228)	(70,174)	(83,053)	(49,092)	(127,183)	(60,697)	(37,264)	(5,293)
Net income	195,048)	586,871)	306,835)	370,905)	314,572)	748,403)	351,870)	392,922)	321,421)	669,468)	248,714)	341,603)	290,405)	119,811)	255,470)	289,521)	189,998)	434,504)	187,788)	208,074)	144,956)	329,837)	143,643)	86,801)	28,632)

A consistent upward trajectory in net revenue and net income is observed over the analyzed period, characterized by strong seasonal fluctuations. Revenue has scaled from 651.9 million US dollars in May 2020 to 2.47 billion US dollars by May 2026, with recurring peaks occurring in the first quarter of each calendar year.

Revenue Growth and Seasonality: Net revenue demonstrates a systemic pattern of growth, with significant spikes occurring every January and February. For instance, revenue peaked at 3.61 billion US dollars in February 2025 and 3.64 billion US dollars in February 2026. These peaks suggest a strong cyclical demand during the winter months, followed by relative stabilization in the subsequent quarters.
Gross Profitability: Gross profit has expanded in alignment with revenue growth, rising from 334.4 million US dollars in May 2020 to 1.33 billion US dollars in May 2026. Cost of goods sold has scaled proportionally, indicating a stable gross margin. The ability to maintain this margin while scaling volume suggests effective pricing strategies and supply chain management.
Operating Expense Management: Selling, general, and administrative (SG&A) expenses have increased in absolute terms, growing from 299.5 million US dollars in May 2020 to 1.06 billion US dollars in May 2026. However, SG&A as a percentage of net revenue has generally trended downward, indicating positive operating leverage where revenue growth outpaces the growth of overhead costs.
Operating Income and Non-Recurring Items: Income from operations shows substantial volatility due to one-time charges. A significant impairment of assets and restructuring cost of 407.9 million US dollars was recorded in January 2023, which heavily impacted operating results for that period. Despite such anomalies, the underlying operating income trend is positive, with peak operational performance reaching 1.04 billion US dollars in February 2025.
Net Income Trends: Net income reflects the combined effect of seasonal revenue peaks and operational efficiency. Bottom-line results grew from 28.6 million US dollars in May 2020 to 195 million US dollars in May 2026. The most profitable quarters consistently coincide with the February peaks, with net income reaching 748.4 million US dollars in February 2025 and 586.8 million US dollars in February 2026.

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lululemon athletica inc. (NASDAQ:LULU)

Income Statement Quarterly Data

Income Statement
Quarterly Data