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Lululemon (LULU) cuts full-year guidance again as leggings shrink about 20% and China sentiment turns

9/13/2026

$2.4 billion in quarterly revenue, down 4% year over year, arrived with Lululemon Athletica's (NASDAQ: LULU) second full-year guidance cut of fiscal 2026 on September 3.

Comparable sales fell 10% on a constant-currency basis.

Management now projects full-year revenue of $10.35 billion to $10.5 billion, a 5% to 7% annual decline, and guides full-year earnings per share to $9.48 to $9.73, against $13.26 recorded in the prior fiscal year.

| Metric | Figure | Label | |---|---|---| | Quarterly revenue | $2.4B | Reported, -4% YoY | | Comparable sales | -10% cc | Reported | | North America revenue | -8% | Reported | | Canada | -11% | Reported | | China Mainland (cc basis) | -2% | Reported | | Rest of World | +5% | Reported | | Leggings | -20% | Reported, approx.