Lululemon Athletica (LULU) Operating Expenses (2009 - 2026)
Lululemon Athletica's Operating Expenses was $1.01 billion in fiscal Q2 2027 (quarter ended Aug 2, 2026), up 5.7% from $951.66 million a year earlier but down 5.1% from the prior quarter.
Powered by 
Analysis
Lululemon Athletica (LULU) Operating Expenses (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Lululemon Athletica's Operating Expenses was $4.24 billion through Aug 2, 2026, up 7.5% year-over-year; for FY2026 (ended Feb 1, 2026), it came in at $4.07 billion, up 8.1% from FY2025.
- Operating Expenses has now increased for 17 consecutive fiscal years, with a five-year compound annual growth rate of 19.9% (FY2021 to FY2026).
- In earlier fiscal years, Operating Expenses was $3.76 billion in FY2025 (+8.4%), $3.47 billion in FY2024 (+9.7%), $3.17 billion in FY2023 (+39.7%) and $2.27 billion in FY2022 (+38.3%).
- Quarterly Operating Expenses has moved between $569.25 million (fiscal Q3 2022) and $1.21 billion (fiscal Q4 2023) over five years.
- Compared with a year earlier, Operating Expenses has increased for seven straight quarters, with growth averaging 8.3% over the last eight quarters.
- The best year-over-year quarter for Operating Expenses over five years was fiscal Q4 2023 (growth of 88.2%); the worst was fiscal Q4 2024 (a decline of 18.3%).
- Per Business Quant data, LULU's Operating Expenses in the three fiscal quarters before Q2 2027 was $1.06 billion (Q1 2027), $1.18 billion (Q4 2026) and $988.25 million (Q3 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Nike | 55.20 Bn | 21.40 Bn | 4.80 Bn | 3.91 Bn |
| 2 | Tapestry | 23.95 Bn | 19.91 Bn | 1.56 Bn | 1.12 Bn |
| 3 | Ralph Lauren | 22.95 Bn | 15.05 Bn | 1.44 Bn | 1.10 Bn |
| 4 | Deckers Outdoor | 12.57 Bn | 5.44 Bn | - | - |
| 5 | Lululemon Athletica | 11.02 Bn | 5.27 Bn | 1.46 Bn | 1.01 Bn |
| 6 | Levi Strauss | 7.96 Bn | 4.54 Bn | 1.07 Bn | 843.50 Mn |
| 7 | V F | 6.73 Bn | 3.35 Bn | 917.04 Mn | 1.75 Bn |
| 8 | Gildan Activewear | 6.57 Bn | 5.49 Bn | 459.76 Mn | 283.86 Mn |
| 9 | Birkenstock Holding | 6.13 Bn | 4.46 Bn | 493.89 Mn | 37.80 Mn |
| 10 | Crocs | 5.91 Bn | 5.32 Bn | 700.71 Mn | 415.03 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Aug 2, 2026 | 1.01 Bn |
| May 3, 2026 | 1.06 Bn |
| Feb 1, 2026 | 1.18 Bn |
| Nov 2, 2025 | 988.25 Mn |
| Aug 3, 2025 | 951.66 Mn |
| May 4, 2025 | 942.87 Mn |
| Feb 2, 2025 | 1.14 Bn |
| Oct 27, 2024 | 909.83 Mn |
| Jul 28, 2024 | 871.96 Mn |
| Apr 28, 2024 | 842.43 Mn |
| Jan 28, 2024 | 989.54 Mn |
| Oct 29, 2023 | 917.30 Mn |
| Jul 30, 2023 | 817.38 Mn |
| Apr 30, 2023 | 747.51 Mn |
| Jan 29, 2023 | 1.21 Bn |
| Oct 30, 2022 | 684.24 Mn |
| Jul 31, 2022 | 662.25 Mn |
| May 1, 2022 | 607.85 Mn |
| Jan 30, 2022 | 643.43 Mn |
| Oct 31, 2021 | 569.25 Mn |
API Access
Lululemon Athletica Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=LULU&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "LULU", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=LULU&period=max&api_key=YOUR_API_KEY");
const data = await res.json();