As of the most recent quarter ending November 2, 2025, LULU reported net income of USD 307M, representing a year-over-year decline of -12.8%. This marks a notable decrease compared to the previous quarter and signals a reversal from earlier periods of positive growth. Over the period from Q4'23 to Q3'26, LULU's net income exhibited a generally cyclical pattern, with significant peaks in Q4 of each fiscal year—most notably USD 669M in Q4'24 and USD 748M in Q4'25. Year-over-year growth was highly volatile, highlighted by a sharp surge of 458.8% in Q4'24, followed by more moderate or negative growth rates in subsequent quarters. The latest quarters show a downward trend in both net income and YoY growth, indicating increasing pressure on profitability as the company moves into late 2025.