lululemon athletica inc.

Lululemon Athletica Inc. reported its first-quarter results, with net revenue increasing to $2.47 billion from $2.37 billion year-over-year. However, net income saw a significant decrease to $195.0 million, or $1.69 per diluted share, compared to $314.6 million, or $2.60 per diluted share, in the same period last year. The company also saw a decrease in cash and cash equivalents and continued its share repurchase program.

Lululemon announced its first quarter fiscal 2026 results, with net revenue increasing 4% to $2.5 billion and diluted EPS falling to $1.69 from $2.60 year-over-year. The company experienced a solid start but is now navigating headwinds, leading to a downward adjustment of its full-year 2026 net revenue and diluted EPS outlook. While international revenue grew strongly, Americas comparable sales decreased, and gross and operating margins saw significant declines.

Lululemon Athletica Inc. announced a Cooperation Agreement with its founder, Dennis J. "Chip" Wilson, and his affiliates. The agreement includes the appointment of Laura Gentile and Marc Maurer as independent directors to the Board following the 2026 Annual Meeting, with plans for a third independent director by October 1, 2026. The company will also support Wilson's proposal to declassify the Board at the 2026 Annual Meeting and, if approved, will propose a Charter amendment for full declassification by the 2028 Annual Meeting. Wilson has agreed to standstill and voting commitments, and has withdrawn his prior director nominations and demands.

lululemon athletica inc. announced the appointment of Esi Eggleston Bracey to its Board of Directors, effective April 28, 2026. This appointment increases the Board's size from 10 to 11 members. Ms. Bracey brings over 30 years of experience in building global consumer and beauty brands, having held senior leadership positions at Unilever, Coty Inc., and Procter & Gamble. Concurrently, Shane Grant notified the company that he does not intend to stand for re-election at the conclusion of his current term, and Ms. Bracey will stand for election in his stead at the 2026 Annual Meeting.

Lululemon Athletica Inc. has entered into an Executive Employment Agreement with Heidi O'Neill for her role as Chief Executive Officer. The agreement, effective April 21, 2026, outlines the terms and conditions of her employment, including definitions for key compensation components like Base Salary and Bonus Plan. It also details conditions for termination, such as acts constituting 'Cause'.