Lululemon surpasses expectations with strong earnings and increased guidance

Lululemon reported Q2 earnings with a GAAP EPS of $2.68, beating expectations by $0.14, and revenue of $2.21 billion, surpassing estimates by $40 million. Total comparable sales increased by 11%, with direct-to-consumer net revenue rising by 15%. The company opened 10 new stores during the quarter and provided a positive outlook for Q3 and 2023, expecting continued revenue growth. Lululemon's stock declined by 2.86% following the announcement.