On August 29, 2024, Lululemon Athletica Inc. reported its financial results for the second quarter ended July 28, 2024. The company announced a 7% increase in net revenue to $2.4 billion and a 2% rise in comparable sales, or 3% on a constant dollar basis. Diluted earnings per share (EPS) were $3.15, up from $2.68 in the same quarter of the previous year. The report highlighted strong international growth, with net revenue outside the Americas rising 29%, or 31% on a constant dollar basis. Gross profit increased by 9% to $1.4 billion, and gross margin improved by 80 basis points to 59.6%. Operating income grew by 13% to $540.2 million, with operating margin expanding by 110 basis points to 22.8%. The company also repurchased 1.9 million shares for $583.7 million and opened 10 new stores, bringing the total to 721. Looking ahead, Lululemon expects...Show More

On August 29, 2024, Lululemon Athletica Inc. reported its financial results for the second quarter ended July 28, 2024. The company announced a 7% increase in net revenue to $2.4 billion and a 2% rise in comparable sales, or 3% on a constant dollar basis. Diluted earnings per share (EPS) were $3.15, up from $2.68 in the same quarter of the previous year. The report highlighted strong international growth, with net revenue outside the Americas rising 29%, or 31% on a constant dollar basis. Gross profit increased by 9% to $1.4 billion, and gross margin improved by 80 basis points to 59.6%. Operating income grew by 13% to $540.2 million, with operating margin expanding by 110 basis points to 22.8%. The company also repurchased 1.9 million shares for $583.7 million and opened 10 new stores, bringing the total to 721. Looking ahead, Lululemon expects third-quarter net revenue to be between $2.340 billion and $2.365 billion, with diluted EPS ranging from $2.68 to $2.73. For the full year 2024, the company anticipates net revenue to be between $10.375 billion and $10.475 billion, representing an 8% to 9% growth, and diluted EPS to be between $13.95 and $14.15. These forecasts do not account for potential future share repurchases. The company's 'Power of Three ×2' growth plan aims to double the business from 2021 net revenue of $6.25 billion to $12.5 billion by 2026, focusing on product innovation, guest experience, and market expansion.