As of Q3'26 (2025-11-02), LULU reported SG&A Expenses of USD 988M, while R&D Expenses remained at USD 0. This continues the trend of zero R&D spending and a steady increase in SG&A Expenses over the observed quarters. From Q4'23 (2023-01-29) to Q3'26 (2025-11-02), LULU's operating expenses have been entirely driven by SG&A, which grew from USD 803M to USD 988M. The SG&A line shows a generally upward trajectory with seasonal peaks, notably reaching USD 1.1B in Q4'25, indicating higher spending in year-end quarters. The absence of R&D Expenses throughout the period highlights a focus on administrative and selling activities rather than research and development.