lululemon athletica beats by $0.14, beats on revs, comparable store sales of +7%; guides Q3 EPS in-line, revs above consensus; raises FY24 EPS and revenue guidance above consensus
Reports Q2 (Jul) earnings of $2.68 per share, excluding non-recurring items, $0.14 better than the FactSet Consensus of $2.54; revenues rose 17.8% year/year to $2.2 bln vs the $2.17 bln FactSet Consensus.
Total comparable sales increased 11%, or 13% on a constant dollar basis.
Comparable store sales increased 7%, or 9% on a constant dollar basis.
Direct to consumer net revenue increased 15%, or 17% on a constant dollar basis.
Co issues guidance for Q3, sees EPS of $2.23-$2.28 vs. $2.23 FactSet Consensus; sees Q3 revs of $2.165-$2.190 bln vs. $2.15 bln FactSet Consensus.
Co raises guidance for FY24, sees EPS of $12.10-$12.17 vs. prior guidance of $11.74-$11.94, above the $11.93 FactSet Consensus; sees FY24 revs of $9.510-$9.570 bln vs. prior guidance of $9.44-$9.51 bln, above the $9.5 bln FactSet Consensus.