Lululemon Athletica’s Q4 2024 earnings call, which took place on March 27, 2025, was led by Vice President of Investor Relations, Howard Tubin, alongside CEO Calvin McDonald and CFO Meghan Frank. The call outlined the company’s performance for the fourth quarter and the entire fiscal year of 2024, and provided guidance for 2025.
The earnings call included a presentation by Howard Tubin, who reminded participants of the forward-looking statements, which are subject to change due to various risks and uncertainties. Tubin also informed that both GAAP and non-GAAP financial measures were presented, with reconciliations available in the company’s annual report.
Calvin McDonald detailed the company’s performance in Q4 2024, reporting that total revenue increased by 8%—or 9% on a constant currency basis—excluding the 53rd week. The operating margin saw an increase of 40 basis points, reaching 28.9%, while earnings per share rose by 16%. For the entire year, the revenue reached $10.6 billion, and excluding the 53rd week, this represented an 8% increase, or 9% on a constant currency basis.
McDonald also highlighted product innovation, noting successful launches such as the Glow Up Tight, Daydrift lifestyle trousers, and BeCalm apparel. Efforts to raise brand awareness included local community activations and global campaigns, engaging with ambassadors, and increasing presence in new markets. The company’s plans for 2025 include growing square footage by approximately 10% and opening new stores worldwide.
Meghan Frank discussed the financial specifics, noting that Q4 revenue rose by 13% in constant currency terms, with growth across all regions. The company’s earnings per share increased to $6.14, from $5.29 the previous year, despite headwinds such as higher air freight and foreign exchange negatives. For 2025, Lululemon expects revenue growth in the range of 5% to 7% and plans substantial investments in marketing, international growth, and technological capabilities.
During the call’s Q&A session, analysts inquired about U.S. revenue projections, marketing strategy, tariffs impact, and the competitive environment’s influence on sales trends. Calvin McDonald and Meghan Frank provided insights into these areas, indicating a cautious yet optimistic outlook for the upcoming year.
