Lululemon cuts outlook as Q2 profit, revenues drop

Lululemon Athletica Inc. has reported a decline in its second-quarter profit and revenues, and the company is cutting its full-year guidance. The Vancouver-based retailer, which files its financials in U.S. dollars, disclosed a net income of US$329.2 million in its second quarter, a decrease from US$370.9 million a year ago. Earnings per diluted share were US$2.92, down from US$3.10 in the same period last year.

Net revenue for the period amounted to US$2.4 billion, representing a reduction of approximately four percent compared to the prior second quarter. Furthermore, the company has lowered its outlook for 2026, projecting net revenue between US$10.35 billion and US$10.50 billion for the full year, and diluted earnings per share between US$9.48 and US$9.73.