In the latest period of Q4'26, Lululemon Athletica's (LULU) Gross Margin stood at 54.9%, reflecting a slight decline from 55.6% in Q3'26, while Operating Margin improved to 22.3% from 17.0%, and Net Profit Margin rose to 16.1% from 12.0%, indicating a recovery in profitability metrics despite ongoing margin pressures. Over the period from Q1'24 to Q4'26, Gross Margin exhibited relative stability, fluctuating between 54.9% and 60.4% with no clear directional trend, peaking at 60.4% in Q4'25 before a gradual softening. Operating and Net Profit Margins showed greater volatility, with both reaching highs of 28.9% and 20.9% respectively in Q4'24 and Q4'25, driven by seasonal strength, but experiencing notable dips to 15.3% and 11.3% in Q3'24, followed by a downward trajectory in the latter half of the period amid potential cost challenges; overall, the margins underscore resilient but inconsistent profitability in a competitive retail environment.