New Risk • Jun 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Announcement • Jun 06
lululemon athletica inc. Provides Earnings Guidance for the Second Quarter of 2026 lululemon athletica inc. provided earnings guidance for the second quarter of 2026. For the period, the Company expects net revenue to be in the range of $2.450 billion to $2.475 billion, representing a decline of 3% to 2%. Diluted earnings per share are expected to be in the range of $1.76 to $1.81 for the quarter. Reported Earnings • Jun 05
First quarter 2027 earnings released: EPS: US$1.71 (vs US$2.61 in 1Q 2026) First quarter 2027 results: EPS: US$1.71 (down from US$2.61 in 1Q 2026). Revenue: US$2.47b (up 4.3% from 1Q 2026). Net income: US$195.0m (down 38% from 1Q 2026). Profit margin: 7.9% (down from 13% in 1Q 2026). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Luxury industry in Italy. Announcement • May 28
Lululemon Athletica Inc. Announces Board Appointments, Effective May 26, 2026 On May 26, 2026, lululemon athletica inc. entered into a Cooperation Agreement (the “Cooperation Agreement”) by and between the Company and Dennis J. “Chip” Wilson, Anamered Investments Inc., LIPO Investments (USA) Inc., Wilson 5 Foundation, Wilson 5 Foundation Management Ltd., Five Boys Investments ULC, Shannon Wilson, Low Tide Properties Ltd. and House of Wilson Ltd. (collectively with their affiliates, “Wilson”). Pursuant to the Cooperation Agreement, the Board of Directors of the Company (the “Board”) will (i) appoint Laura Gentile and Marc Maurer to the Board as independent directors, effective immediately following the Company’s 2026 annual meeting of stockholders (the “2026 Annual Meeting”); (ii) increase the size of the Board in connection therewith; and (iii) take all necessary steps to appoint an additional new independent director with apparel product and brand expertise to the Board by October 1, 2026, subject to the approval of Mr. Wilson, not to be unreasonably withheld, conditioned or delayed. Each of Ms. Gentile and Mr. Maurer has signed a conditional letter of resignation, which would become effective upon the earlier of (a) the termination of certain Company obligations to Wilson and (b) the termination of the Cooperation Agreement. In addition, one additional incumbent director will not stand for reelection at the Company’s 2027 annual meeting of stockholders (the “2027 Annual Meeting”). Announcement • May 21
lululemon athletica inc., Annual General Meeting, Jun 25, 2026 lululemon athletica inc., Annual General Meeting, Jun 25, 2026. Announcement • May 13
Dennis J. Wilson Issue an Open Letter to the Shareholders of lululemon athletica On May 11, 2026, Dennis J. Wilson issued an open letter on May 6, 2026, to the shareholders of lululemon athletica setting forth his views on the characteristics of a successful creative business, which include inspiring the core customer, focusing on technical details when developing products, driving disruption, cultivating a culture that prioritizes experimentation and innovation, and emphasizing creativity at the board level. Wilson’s belief that the Nominees, based on their individual and collective experience in brand development, creative leadership and focused marketing, would bring fresh perspectives to help restore confidence and stop the current pattern of value destruction at the Company, if elected to the Board. Announcement • Apr 30
Chip Wilson Issues Letter to lululemon Shareholders On April 29, 2026, Chip Wilson issued a letter to shareholders of Datadog, Inc., criticizing the company’s Board for its failure to understand and protect the brand’s premium positioning, and he stated that Board's endorsement of brand-eroding choices has led to a 65.9% loss in shareholder value over a less than 2-year period, which impacted the Company’s stock performance among its peers, lagging its peer median on 1- and 3-year total shareholder returns by 19.5% and 63.6% respectively. In addition, Wilson criticizes the Board’s appointment of Heidi O’Neill as CEO, which reflects broken governance and a lack of creative, product-first leadership, and he noted the negative market reaction to her appointment and the long gap before she officially starts, which he says destabilizes the business. Further, Wilson describes unsuccessful settlement discussions with the Board, alleging excessive focus on non-disparagement agreements and escrow demands, and resistance driven by personal animus toward him rather than shareholder interests. Furthermore, Wilson urged the Company shareholders to vote for his director nominees Marc Maurer, Laura Gentile, and Eric Hirshberg, at the 2026 annual meeting of shareholders. Announcement • Apr 29
lululemon athletica inc. Announces Board Changes lululemon athletica inc. announced the appointment of Esi Eggleston Bracey, former Chief Growth & Marketing Officer of Unilever PLC, to its Board of Directors, effective April 28, 2026. Esi Eggleston Bracey most recently served as Chief Growth & Marketing Officer of Unilever PLC, where she led the global transformation of marketing across a portfolio of more than 400 brands. Prior to that role, she served as President, Unilever USA and CEO, Unilever Personal Care, North America, and as Executive Vice President and Chief Operating Officer, North America Beauty and Personal Care. Earlier in her career, Ms. Bracey held senior leadership roles at Coty Inc. and at Procter & Gamble. Ms. Bracey has served on the board of directors of Williams-Sonoma Inc. since 2021 and previously served on the board of Six Flags Entertainment Corporation. She holds a bachelor’s degree in engineering sciences from Dartmouth College. Ms. Bracey will stand for election at lululemon’s 2026 Annual Meeting of Shareholders in lieu of Shane Grant, who has notified the company that he does not intend to stand for re-election at the conclusion of his current term. Buy Or Sell Opportunity • Apr 10
Now 22% overvalued Over the last 90 days, the stock has fallen 20% to €140. The fair value is estimated to be €115, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 24%. For the next 3 years, revenue is forecast to grow by 4.5% per annum. Earnings are also forecast to grow by 3.1% per annum over the same time period. Announcement • Apr 09
Dennis J. Wilson Posts Advertisements on Social Media On April 7, 2026, Dennis J. Wilson issued advertisements on social media and search engines in connection with lululemon athletica inc.’s annual shareholders meeting. Recent Insider Transactions • Mar 26
Insider recently bought €865k worth of stock On the 20th of March, Charles Bergh bought around 6k shares on-market at roughly €142 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €1.6m more in shares than they bought in the last 12 months. Buy Or Sell Opportunity • Mar 18
Now 19% overvalued Over the last 90 days, the stock has fallen 23% to €144. The fair value is estimated to be €122, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 24%. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings are also forecast to grow by 3.7% per annum over the same time period. Reported Earnings • Mar 18
Full year 2026 earnings released: EPS: US$13.27 (vs US$14.67 in FY 2025) Full year 2026 results: EPS: US$13.27 (down from US$14.67 in FY 2025). Revenue: US$11.1b (up 4.9% from FY 2025). Net income: US$1.58b (down 13% from FY 2025). Profit margin: 14% (down from 17% in FY 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Luxury industry in Italy. Announcement • Mar 05
Chip Wilson Launches Website in Campaign for Change at lululemon On March 5, 2026, Chip Wilson announced that he has launched a campaign website, detailing his view on the quantum of change needed at lululemon athletica inc. and showcases the 3 independent director candidates he's nominated Marc Maurer, Laura Gentile and Eric Hirshberg, for election to the Company's Board of Directors at the Company's 2026 Annual Meeting of Shareholders. In addition, Chip Wilson stated that website launch his latest step in his campaign to unlock value for all Company shareholders, allowing shareholders to engage with his case for change and get to know his independent director nominees, and he believes the Company requires a board to renew focus on creativity, product excellence and a recommitment to the original muse ahead of a new CEO being named, as well as the declassification of its Board. Announcement • Feb 27
Chip Wilson Sends Letter to lululemon Shareholders On February 27, 2026, Chip Wilson announced that he has sent a letter to shareholders of lululemon athletica inc., pushing the Company for immediate governance changes and board restructuring, citing a $20 billion loss in shareholder value over 5 years and a disconnect between the board and the company’s creative engine. In addition, Wilson criticized the board for insufficient engagement, rejecting a proposed Brand Product Committee, and potential conflicts of interest, prompting him to nominate 3 independent directors and demand board declassification. Further, Wilson contending that the board has failed to act with necessary urgency, urged the Company shareholders to push for changes to prevent further value destruction and stated that his independent candidates, Marc Maurer, Laura Gentile and Eric Hirshberg, stand ready to serve in the best interest of the Company and its shareholders. Announcement • Feb 10
lululemon Introduces Unrestricted Power lululemon unveiled Unrestricted Power™?, a new innovation platform engineered for heavy lifts and demanding gym sessions. The assortment, which launches this morning in North America, is backed by thousands of hours of research and development, providing secure support without compromising comfort and mobility, enabling a distraction-free fit built to match every move. The product features a new lululemon proprietary performance fabric called PowerLu™?, which is crafted with the brand's highest filament-count yarn to provide the ideal balance of engineered stretch, unrestricted motion, and stability. The unique dual-action design stretches effortlessly with every rep, providing targeted support for the body while reducing the sensation of riding up, slipping down, or pulling even in the deepest squat position. Unrestricted Power was developed through rigorous wear-testing with lululemon's Ambassador athletes, including strength and performance athlete Kayla Jeter and seven-time Formula 1™? World Champion Lewis Hamilton, who both contributed real-world feedback to the fit, construction and performance during their toughest workouts. The brand's newest train assortment will feature both women's and men's styles including: Unrestricted Power High Rise Tight 25" (W): Secure support with engineered stretch, a no-inseam construction to eliminate pulling in deep squats, raised yoke for enhanced glute support, and a no-dig waistband that stays in place. Unrestricted Power Short 7" Lined (M): Developed from the inside out with a liner designed to provide support while reducing the sensation of riding-up during squats, paired with a durable, four-way stretch outer shell. Unrestricted Power Cropped Long Sleeve (W) & Long Sleeve (M): Lightweight, second-skin tops designed for inhibited movement, featuring ultra-flexible, soft-brushed fabric that wicks sweat, dries quickly, and breathing easily. With the release of Unrestricted Power, lululemon continues to expand their high-performance training assortment designed to fuel every workout, including Wunder Train™?, Glow Up™? and Licence to Train™? collections and Charge feel™? shoes. Unrestricted Power launches February 10 in North America and in EMEA, APAC, and China Mainland later this year. Board Change • Feb 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Teri List-Stoll was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 23
Dennis Wilson Announces his Intention to File Definitive Proxy Statement with Securities and Exchange Commission On January 23, 2026, Dennis J. Wilson announced that he intended to file a proxy statement with the U.S. Securities and Exchange Commission to be used to solicit proxies for the election of his slate of director candidates at the 2026 annual meeting of shareholders of lululemon athletica inc., and for the approval of a business proposal to be presented at the 2026 Annual Meeting. Announcement • Jan 13
Lululemon Athletica Inc. Updates Earnings Guidance for the Fourth Quarter of Fiscal 2025 lululemon athletica inc. updates earnings guidance for the fourth quarter of fiscal 2025. For the quarter, the company expects net revenue and diluted earnings per share for the fourth quarter of fiscal 2025 to be toward the high end of the previously guided ranges of $3.500 billion to $3.585 billion and $4.66 to $4.76, respectively. Recent Insider Transactions • Dec 21
Insider recently sold €2.3m worth of stock On the 16th of December, Celeste Burgoyne sold around 14k shares on-market at roughly €173 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.4m more than they bought in the last 12 months. New Risk • Dec 19
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €93k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (5.9% average weekly change). Significant insider selling over the past 3 months (€93k sold). Announcement • Dec 19
Elliott Investment Management Calls for a CEO Change at lululemon athletica On December 18, 2025, Elliott Investment Management announced that it has acquired a stake of more than $1 billion dollars in Lululemon Athletica to help the Company recover from financial difficulties. Elliott Investment is advocating for Jane Nielsen, a former Ralph Lauren executive, to be the new CEO following the announcement of current CEO Calvin McDonald's departure. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €188, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Luxury industry in Italy. Simply Wall St's valuation model estimates the intrinsic value at €234 per share. New Risk • Dec 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (5.8% average weekly change). Buy Or Sell Opportunity • Dec 15
Now 21% undervalued Over the last 90 days, the stock has risen 25% to €171. The fair value is estimated to be €216, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 4.6% per annum. Earnings are also forecast to grow by 1.0% per annum over the same time period. Reported Earnings • Dec 14
Third quarter 2026 earnings released: EPS: US$2.59 (vs US$2.87 in 3Q 2025) Third quarter 2026 results: EPS: US$2.59 (down from US$2.87 in 3Q 2025). Revenue: US$2.57b (up 7.1% from 3Q 2025). Net income: US$306.8m (down 13% from 3Q 2025). Profit margin: 12% (down from 15% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Luxury industry in Italy. New Risk • Dec 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.04% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 0.04% per year for the foreseeable future. High level of non-cash earnings (22% accrual ratio). Announcement • Nov 26
lululemon athletica inc. to Report Q3, 2026 Results on Dec 11, 2025 lululemon athletica inc. announced that they will report Q3, 2026 results After-Market on Dec 11, 2025 Announcement • Nov 21
Lululemon Athletica Inc. Announces Management Changes lululemon athletica inc. announced that Celeste Burgoyne, President of the Americas and Global Guest Innovation, has decided to leave the company for a new opportunity outside of the industry, effective December 31, 2025. She will remain with lululemon until the end of December 2025 to ensure a smooth transition. Ms. Burgoyne joined lululemon in 2006 and became the company’s first President in 2020. Throughout her tenure, she has assumed roles of increasing responsibility and led the North America business through periods of rapid growth and expansion. In conjunction with this announcement, lululemon has made the decision to consolidate regional leadership across the company and appoint André Maestrini as President and Chief Commercial Officer, effective immediately on November 21, 2025. Mr. Maestrini will continue to report directly to Mr. McDonald. In this newly created role, Mr. Maestrini will provide integrated oversight of all of lululemon’s regions, stores, and digital channels globally. He will also oversee lululemon’s global commercial strategy with a focus on continued market expansion, revenue generation, and accelerating best practice sharing, across all regions including North America. Mr. Maestrini joined lululemon in 2021 as Executive Vice President of International. In his current role, he has overseen lululemon’s operations in EMEA, APAC, and China Mainland, and has helped to more than quadruple lululemon’s international revenues. Before joining lululemon, Mr. Maestrini spent 14 years at adidas in various senior roles across the globe. During this time, he served in a number of General Manager positions where he helped grow the company’s global sports categories and regional markets. Prior to adidas, Mr. Maestrini held marketing roles at The Coca-Cola Company, Danone, and Kraft Jacobs Suchard.Mr. Maestrini holds a master’s degree in Marketing from ESSEC Business School in Paris, France. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €142, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Luxury industry in Italy. Simply Wall St's valuation model estimates the intrinsic value at €225 per share. Buy Or Sell Opportunity • Sep 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 38% to €144. The fair value is estimated to be €182, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 5.6% per annum. Earnings are also forecast to grow by 2.8% per annum over the same time period. Announcement • Aug 26
Lululemon Announces Executive Changes lululemon announced that it has appointed Ranju Das as Chief AI & Technology Officer, effective September 2, 2025. In this newly created role, Mr. Das will be responsible for leading the company’s technology organization and driving the development and execution of the next phase of lululemon’s technology and AI strategy. He will report to Chief Executive Officer, Calvin McDonald, and will join the company’s Senior Leadership Team. Mr. Das has over two decades of leadership experience scaling global organizations and driving AI-first innovation in healthcare, financial technology, and consumer technology. He previously held the role of CEO and founder of Swan AI Studios, where he led the development of cutting-edge AI platforms and applications across industries. Before founding Swan AI Studios, Mr. Das served as CEO of OptumLabs, the R&D arm of UnitedHealth Group, where he led transformative AI and data-driven initiatives across healthcare and insurance verticals. Prior to OptumLabs, he spent nearly eight years at Amazon, ultimately serving as General Manager for Amazon AI Services, where he built and scaled some of the company’s key AI offerings. His career also includes 12 years of engineering and leadership roles at Barnes & Noble, as well as co-founding a number of startups. Mr. Das began his career as a software engineer and holds a Bachelor of Science in Civil and Structural Engineering from Annamalai University. lululemon also announced that Chief Information Officer Julie Averill will depart the company in September as part of a planned leadership transition to pursue other opportunities. Announcement • Aug 21
lululemon athletica inc. to Report Q2, 2026 Results on Sep 04, 2025 lululemon athletica inc. announced that they will report Q2, 2026 results on Sep 04, 2025 Buy Or Sell Opportunity • Jul 03
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at €211. The fair value is estimated to be €266, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings are also forecast to grow by 4.3% per annum over the same time period. Buy Or Sell Opportunity • Jun 16
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €208. The fair value is estimated to be €261, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings are also forecast to grow by 4.3% per annum over the same time period. Board Change • Jun 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Teri List-Stoll was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to €215, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 14x in the Luxury industry in Italy. Simply Wall St's valuation model estimates the intrinsic value at €255 per share. Reported Earnings • Jun 06
First quarter 2026 earnings released: EPS: US$2.61 (vs US$2.55 in 1Q 2025) First quarter 2026 results: EPS: US$2.61. Revenue: US$2.37b (up 7.3% from 1Q 2025). Net income: US$314.6m (down 2.1% from 1Q 2025). Profit margin: 13% (down from 15% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Luxury industry in Italy. Announcement • Jun 06
lululemon athletica inc. Provides Earnings Guidance for the Second Quarter and Full Year 2025 lululemon athletica inc. provided earnings guidance for the second quarter and full year 2025. For the quarter, the company expects net revenue to be in the range of $2.535 billion to $2.560 billion, representing growth of 7% to 8%. Diluted earnings per share are expected to be in the range of $2.85 to $2.90 for the quarter.
For the year 2025, the Company continues to expect net revenue to be in the range of $11.150 billion to $11.300 billion, representing growth of 5% to 7%, or 7% to 8% excluding the 53rd week of 2024. Diluted earnings per share are now expected to be in the range of $14.58 to $14.78 for the year. Announcement • May 22
lululemon athletica inc. to Report Q1, 2026 Results on Jun 05, 2025 lululemon athletica inc. announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on Jun 05, 2025 Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €284, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 13x in the Luxury industry in Italy. Simply Wall St's valuation model estimates the intrinsic value at €191 per share.