As of Q3'26 (2025-11-02), LULU reported a gross margin of 55.6%, an operating margin of 17.0%, and a net profit margin of 12.0%. These figures reflect a sequential decline from the previous quarter, particularly in gross and net profit margins, signaling some margin compression in the latest period. Over the period from Q4'23 to Q3'26, LULU's profit margins have demonstrated moderate volatility. Gross margin peaked at 60.4% in Q4'25 before trending downward, while operating and net profit margins also reached their highs in the same quarter at 28.9% and 20.7%, respectively, before declining. The overall trend suggests that while LULU achieved margin expansion through 2024 and early 2025, recent quarters have seen a reversal, with all three margin metrics softening as of the latest data point.