Lululemon Non-GAAP EPS of $2.20 beats by $0.34, revenue of $1.87B beats by $100M, guidance above consensus
Lululemon press release (NASDAQ:LULU): Q2 Non-GAAP EPS of $2.20  beats by $0.34.
Revenue of $1.87B (+29.0% Y/Y)  beats by $100M.
Comparable sales increased 23%, or increased 25% on a constant dollar basis.
Gross profit increased 25% to $1.1 billion and gross margin decreased 160 basis points to 56.5%

Operating margin increased 140 basis points to 21.5%. Adjusted operating margin increased 30 basis points.
The Company opened 21 net new company-operated stores during the second quarter, ending with 600 stores.

Q3 Outlook: The Company expects net revenue to be in the range of $1.780 billion to $1.805 billion vs. consensus of $1.73B, representing a three-year compound annual growth rate of approximately 25%. Diluted earnings per share are expected to be in the range of $1.90 to $1.95 vs. consensus of $1.78.

2022 Outlook: The Company expects net revenue to be in the range of $7.865 billion to $7.940 billion vs. consensus of $7.69B, representing a three-year compound annual growth rate of approximately 26%. Diluted earnings per share are expected to be in the range of $9.82 to $9.97 for the year and, excluding the gain on the sale of an administrative office building, adjusted diluted earnings per share are expected to be in the range of $9.75 to $9.90 vs. consensus of $9.44.
Shares +7.31%.