Lululemon GAAP EPS of $2.68 beats by $0.14, revenue of $2.21B beats by $40M
Lululemon press release (NASDAQ:LULU): Q2 GAAP EPS of $2.68  beats by $0.14.
Revenue of $2.21B (+18.2% Y/Y)  beats by $40M.
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.
The Company repurchased 0.5 million shares of its own common stock at an average price of $370.99 per share for a cost of $191.7 million.
The Company opened 10 net new company-operated stores during the second quarter, ending with 672 stores.

Q3 Outlook: The Company expects net revenue to be in the range of $2.165 billion to $2.190 billion, representing growth of 17% to 18%. Diluted earnings per share are expected to be in the range of $2.23 to $2.28 for the quarter. This assumes a tax rate of approximately 30.5%.

2023 Outlook: The Company expects net revenue to be in the range of $9.510 billion to $9.570 billion, representing growth of 17% to 18%. Diluted earnings per share are expected to be in the range of $12.02 to $12.17 for the year. This assumes a tax rate of approximately 30%.
Shares -2.86%.


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