For the fiscal quarter ending January 31, 2026, analysts expect Lululemon to report revenue of $3.59 billion and earnings of $4.77 per share, with the stock currently trading at $157.78—significantly below the consensus price target of $205.00.
Investors are primarily focused on the recovery of North American comparable sales, which are projected to decline as the brand faces intense competition and softening demand in its core market.
This earnings report is a critical turning point following the January 2026 departure of CEO Calvin McDonald and the implementation of a "three-pillar product reset" aimed at accelerating new style penetration. While international expansion in China remains a high-growth bright spot, Wall Street is looking for concrete evidence that domestic traffic and margins can stabilize under new leadership.