Lulu Q3 2025 业绩概览与数据整理

Revenue and Profit
Total Revenue: ~$2.6B (YoY +7%)
Diluted EPS: $2.59 (~10% decline YoY)

Regional Performance
Americas Net Revenue: ~2% decline
International Net Revenue: ~33% growth
Same-Store Sales: ~1% global growth (Americas -5%, International +18%)

Gross Margin & Operations
Gross Profit: ~$1.4B (+2%)
Gross Margin: ~55.6% (-290bps)
Operating Income: ~$435.9M (-11%)
Operating Margin: 17.0% (-350bps)

Stores & Inventory
Total Company-Operated Stores: ~796
Inventory: $2.0B (~11% YoY growth)
Cash & Equivalents: ~$1.0B

Shareholder Returns
Share Repurchase: Board approved increase to ~$1.6B authorization (including new $1.0B)

Notes: International growth remains strong, aligning with prior "international expansion as the long-term narrative" expectations; Negative sentiment pre-earnings set up the revenue/EPS beat; McDonald's departure was somewhat unexpected - need to monitor succession plan. Ongoing concerns remain margin compression and inventory growth.

$Lululemon(LULU.US)