lululemon's Americas Sales Slump Deepens Turnaround Concerns

lululemon athletica reported an 8% decline in North American revenues in Q2 FY26 with comparable sales falling 12%, driven by weakening consumer demand and a 20% drop in women's leggings sales as preferences shift toward looser silhouettes. The company expects low-double-digit revenue declines for the full fiscal year. Peers Nike, Ralph Lauren, and G-III Apparel are showing mixed regional performance, with Nike and Ralph Lauren demonstrating stronger North American momentum while G-III benefits from owned brand growth.