The earnings call highlighted strong international growth and new product successes, with positive financial metrics such as revenue increase and EPS exceeding expectations. However, challenges in the US market, tariff impacts, and SG&A deleveraging present concerns. The sentiment is balanced by strategic investments and mitigation plans for the second half of the year.

Company Guidance

During Lululemon's Q1 2025 earnings call, the company provided guidance and insights into its fiscal performance and strategies moving forward. Revenue for the quarter increased by 7% year-over-year, or 8% on a constant currency basis, reaching $2.4 billion, and earnings per share exceeded expectations at $2.6. The company maintained its full-year revenue guidance of 7% to 8% growth, with expectations of low to mid-single-digit growth in North America, 25% to 30% growth in China Mainland, and approximately 20% growth in the rest of the world. The gross margin increased by 60 basis points to 58.3%, driven by product margin improvements, despite higher airfreight costs and a negative impact from foreign exchange. Lululemon plans to continue investing in new store openings and market expansions, expecting to add 40 to 45 net new company-operated stores in 2025. Tariffs and strategic pricing adjustments were discussed as potential impacts on gross margin, with an anticipated 110 basis point decrease for the full year. The company highlighted strong market share gains in the premium athletic wear segment, particularly in the U.S., and ongoing success in China, where revenue increased by 22% in constant currency. Brand campaigns and product innovations were emphasized as key growth drivers, with notable launches such as the Align No Line and new running shorts contributing to positive guest engagement.

Revenue Increase and EPS Beat

Total revenue increased 7% or 8% on a constant currency basis, reaching $2.4 billion. Earnings per share were $2.6, ahead of expectations.

Strong International Growth

Revenue in China Mainland increased 22% in constant currency, and the rest of the world saw a 17% increase. New store openings in Denmark and Turkey are off to a strong start.

New Product Success

High guest response to new products such as Align No Line and Daydrift. Newness levels are back to historical percentages, with successful launches contributing to positive reception.

Share Repurchase Program

Repurchased $430 million worth of shares, demonstrating financial strength and confidence in long-term prospects.

Lululemon Athletica (DE:33L) Earnings, Revenues Date & History

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DE:33L Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Dec 04, 2025	2025 (Q3)	- / -	2.462	―	―	―
Sep 04, 2025	2025 (Q2)	2.45 / -	2.702	―	―	―
Jun 05, 2025	2025 (Q1)	2.22 / 2.23	2.179	2.36% (+0.05)
Mar 27, 2025	2024 (Q4)	5.02 / 5.27	4.529	16.29% (+0.74)
Dec 05, 2024	2024 (Q3)	2.32 / 2.46	2.17	13.44% (+0.29)
Aug 29, 2024	2024 (Q2)	2.53 / 2.70	2.299	17.54% (+0.40)
Jun 05, 2024	2024 (Q1)	2.08 / 2.18	1.956	11.40% (+0.22)
Mar 21, 2024	2023 (Q4)	4.29 / 4.53	3.774	20.00% (+0.75)
Dec 07, 2023	2023 (Q3)	1.96 / 2.17	1.716	26.50% (+0.45)
Aug 31, 2023	2023 (Q2)	2.18 / 2.30	1.887	21.82% (+0.41)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DE:33L Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 05, 2025	€295.60	€231.45	-21.70%
Mar 27, 2025	€315.85	€268.35	-15.04%
Dec 05, 2024	€325.80	€384.90	+18.14%
Aug 29, 2024	€235.85	€233.20	-1.12%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.