{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Earnings Debate","title":"lululemon athletica inc. (LULU) Announced Q2 2026 Earnings on September 3, 2026, Reporting \"total net revenue decreased 4% or 5% in constant currency to $2.4 billion\"","html":"","width":"100%","height":180,"duration":1189,"description":"For the second quarter of 2026, interim Co-CEO and CFO Meghan Frank reported that \"total net revenue decreased 4% or 5% in constant currency to $2.4 billion\" for the quarter and \"comparable sales decreased 10%\" for the quarter.\nShe stated \"gross profit for the second quarter was $1.46 billion, or 60.5% of net revenue\" and \"operating income for the quarter was $454 million, or 18.8% of net revenue\", which included a \"$134.5 million pretax benefit from IEEPA tariff refunds\" for the quarter.\nShe also noted \"net income for the quarter was $329 million, or $2.92 per diluted share, compared to $3.10 for the second quarter of 2025\" and \"inventory at the end of Q2 is $1.7 billion, a decrease of 1% on a dollar basis\".Management discussed their action plan focused on three pillars: \"product creation, product activation and enterprise enablement\", with the goal of \"returning to full price sales growth\". To optimize North America store channels, the company has \"decreased SKUs by 15%\" to ensure a less dense presentation and is leveraging its chase capabilities by \"chasing approximately 20% more volume this year relative to last year\". On expenses, they are taking an \"aggressive stance on expense management\", moderating head count growth, and planning \"approximately 35 net new store openings this year\", down from forty last quarter. In addition, the company is preparing for its \"incoming CEO, Heidi O'Neill, joins us next week\" to evaluate their strategy and action plans.In products and brand activations, the company saw leggings sales decline \"approximately 20% in Q2\" but found \"good traction in several of our away-from-body styles\" including the \"Groove Wide-Leg\", the \"Align Foldover Jogger\", the \"Breezily\", and the \"updated Dance Studio Pant\". Men's category performance saw \"strength in Metal Vent Tech tees and our golf tops\" for the quarter, supported by storytelling campaigns around elite ambassadors \"Lewis Hamilton and Min Woo Lee\". On brand activation, the company...","thumbnail_url":"https://img.transistorcdn.com/xJuh_6koFF8CKKFzV-oIB_PzOA86GyxN802qWUMHjC4/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS80ODli/Mjg2OGQ5YjVkMzU2/Yjg0NzMxNTJiZGRj/NzFjOC5qcGVn.webp","thumbnail_width":300,"thumbnail_height":300}