Lululemon GAAP EPS of $1.48 beats by $0.05, revenue of $1.61B beats by $60M
Lululemon press release (NASDAQ:LULU): Q1 GAAP EPS of $1.48 beats by $0.05.

Revenue of $1.61B (+30.9% Y/Y)  beats by $60M.
Comparable sales increased 28%, or increased 29% on a constant dollar basis
Gross profit increased 24% to $870.4M and gross margin decreased 320 basis points to 53.9%.

Shares +4%.

Q2 Guidance: For the second quarter of 2022, the Company expects net revenue to be in the range of $1.750 billion to $1.775 billion, representing a three-year compound annual growth rate of approximately 26%, vs. consensus of $1.73B. Diluted earnings per share are expected to be in the range of $1.89 to $1.94 for the quarter; and adjusted diluted earnings per share are expected to be in the range of $1.82 to $1.87 vs. consensus of $1.77

For 2022, the Company expects net revenue to be in the range of $7.610 billion to $7.710 billion, representing a three-year compound annual growth rate of 24% to 25%, vs. consensus of $7.58B. Diluted earnings per share are expected to be in the range of $9.42 to $9.57 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 $9.35 to $9.50 vs. consensus of $9.35