Lululemon GAAP EPS of $2.28 beats by $0.29, revenue of $2B beats by $80M
Lululemon press release (NASDAQ:LULU): Q1 GAAP EPS of $2.28  beats by $0.29.
Revenue of $2B (+24.2% Y/Y)  beats by $80M.
Shares -3%.
Comparable sales increased 14%, or increased 17% on a constant dollar basis
Direct to consumer net revenue represented 42% of total net revenue compared to 45% for the first quarter of 2022.
For the second quarter of 2023, the Company expects net revenue to be in the range of $2.140 billion to $2.170 billion, representing growth of approximately 15%. Diluted earnings per share are expected to be in the range of $2.47 to $2.52 for the quarter. This guidance assumes a 30% tax rate.

For 2023, the Company expects net revenue to be in the range of $9.440 billion to $9.510 billion, representing growth of approximately 17%. Diluted earnings per share are expected to be in the range of $11.74 to $11.94 for the year. This guidance assumes a 30% tax rate.