TLDR
- Director Charles Bergh bought nearly $1 million in LULU stock on March 23, 2026
- The stock has dropped roughly 50% over the past 12 months
- Full-year 2025 Americas revenue fell 1%; total sales dropped 3%
- International revenue grew 22% year-over-year, the clearest bright spot
- No permanent CEO has been named since Calvin McDonald left in January 2026
Lululemon Athletica (LULU) is navigating one of the tougher stretches in its history. The athleisure brand that once seemed untouchable is now dealing with falling North American sales, a leadership vacuum, and margin pressure from tariffs — yet at least one board member just put nearly a million dollars on the line.
Lululemon Athletica Inc., LULU
On March 23, director Charles Bergh purchased 6,090 LULU shares for $999,978. That works out to roughly $164 per share. It’s the kind of move that tends to catch investors’ attention, given that insiders usually buy when they think the stock is cheap.
The backdrop for that buy is a tough one. LULU has fallen approximately 50% over the past 12 months, and the stock is down more than 21% year-to-date.
Leadership Gap Weighs on Recovery
Calvin McDonald stepped down as CEO in January 2026, and the company has not named a replacement. Founder Chip Wilson has been running a proxy battle and has been openly critical of the brand’s direction. Until a permanent leader is in place, any turnaround plan lacks a clear author.
For full-year 2025, total sales dropped 3%. Revenue in the Americas slipped 1%. Those numbers reflect what management itself acknowledged on its Q4 call — 2026 will be a “transitional year.”
The current share price is around $164, sitting near the bottom of its 52-week range of $156.64 to $348.50.
Tariffs are a growing concern. Management flagged that tariff-driven costs are compressing gross margins, and that markdowns are running higher. Analysts have been trimming longer-term profit forecasts as a result.
Guidance for 2026 points to net revenue growth of just 2% to 4%. That’s positive, but not the kind of number that tends to excite investors who remember the stock above $500.
International Growth Stands Out
The clearest positive in Lululemon’s recent results is international. Full-year international net revenue grew 22% year-over-year, with double-digit growth reported throughout 2025.
Digital is also holding up. Management pointed to solid digital performance alongside international as the two areas showing real momentum.
Wall Street is largely sitting on the fence. The consensus analyst rating is a “hold,” with the valuation looking more reasonable after the steep selloff.
The stock’s technical picture is weak. It’s trading in a broad downtrend with negative momentum signals, and the technical sentiment is rated as a sell.
Gross margin sits at 56.54%. Market cap is currently around $19.65 billion.
The next move for LULU will likely hinge on who the company appoints as its next CEO and what their plan looks like for North America.
Bergh’s nearly $1 million purchase on March 23 remains the most recent piece of insider activity on record.
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