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Lululemon Surprises with Earnings, Faces Tough 2026 Outlook

3/19/2026

41 9 Full Breakdown

Summary

Story summary

Lululemon Athletica reported fourth-quarter earnings that beat expectations but issued disappointing guidance for 2026.
Dana Telsey, the CEO, noted sluggish North American sales and margin pressure.
Analysts expect gross-margin contraction and a roughly $150 million tariff impact.
The company is moving to full-price selling and reducing promotions as part of a brand reset, amid governance issues such as a proxy battle.

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Story summary

Lululemon Athletica reported fourth-quarter earnings that beat expectations but issued disappointing guidance for 2026.
Dana Telsey, the CEO, noted sluggish North American sales and margin pressure.
Analysts expect gross-margin contraction and a roughly $150 million tariff impact.
The company is moving to full-price selling and reducing promotions as part of a brand reset, amid governance issues such as a proxy battle.