Not trying to start a rumor here- just sharing a small observation and wondering if others have noticed the same.
I went to my local lululemon store today to pick up a pair of hemmed pants, and I noticed that the markdown/sale rack that used to be there wasn’t out anymore. I didn’t ask an educator about it, so this is purely anecdotal and could just be store-specific.
That said, it caught my attention because Rakuten also recently showed no cash back for lululemon, and lululemon has publicly talked about focusing more on full-price sales, especially in North America. My guess, and it’s only a guess, is that lululemon may be trying to make markdowns less visible or less front-and-center, rather than eliminating them completely. “We Made Too Much” still exists online, so I don’t think this means sales are going away. But maybe they’re being more careful about how discounts show up in stores and through third-party cashback channels.
Again, this is just one store visit plus some public info. Curious if anyone else has noticed fewer sale racks, less markdown visibility, or changes in cashback/discount availability lately.
For context, lululemon’s own Q4/full-year release said improving full-price sales in 2026, particularly in North America, is a key priority:
https://corporate.lululemon.com/media/press-releases/2026/03-17-2026-200620717
Reuters also reported that the company is looking to reduce markdowns and drive more full-price sales as part of its 2026 strategy:
https://www.reuters.com/sustainability/sustainable-finance-reporting/lululemon-forecasts-annual-revenue-profit-below-estimates-2026-03-17/
Business Insider had a similar read, saying lululemon plans to reduce markdowns and lean harder into full-price selling/minimal discounting:
https://www.businessinsider.com/lululemon-plans-to-cut-markdowns-to-boost-revenue-in-2026-2026-3