Lululemon Athletica Inc
LULU
$190.01 3.49%
Exchange: NASDAQ | Sector: Consumer Cyclical | Industry: Apparel Retail
Q2 2024
Published: Aug 29, 2024

Earnings Highlights

  • Revenue of $2.37B up 7.3% year-over-year
  • EPS of $3.15 increased by 17.1% from previous year
  • Gross margin of 59.6%
  • Net income of 392.92M
  • ""As weโ€™ve analyzed our womenโ€™s business... it became clear to us that this reduced newness... has impacted conversion rates given the fewer new options available to our female guests." - Calvin McDonald" - Calvin McDonald
LULU
Lululemon Athletica Inc

Executive Summary

In Q2 2024, Lululemon Athletica Inc (LULU) reported a revenue increase of 7% to $2.37 billion, reflecting resilience despite facing challenges, particularly in the women's segment. Key growth drivers included an 11% increase in menโ€™s apparel sales and 6% in womenโ€™s. Net income grew 15% year-over-year, reaching $393 million, translating to an EPS of $3.15, up from $2.68 in the previous year. Despite robust performance, management acknowledged certain missteps in product newness affecting conversion rates in the women's category, which remain a focal point for improvement moving forward. The international segment showed promising growth, particularly in China, which experienced a revenue increase of 34% YoY, thereby underscoring the companyโ€™s expansion potential outside North America.

Key Performance Indicators

Revenue
Increasing
2.37B
QoQ: 7.34% | YoY: 7.33%
Gross Profit
Increasing
1.41B
59.60% margin
QoQ: 10.75% | YoY: 8.75%
Operating Income
Increasing
540.23M
QoQ: 16.96% | YoY: 12.72%
Net Income
Increasing
392.92M
QoQ: 22.25% | YoY: 15.02%
EPS
Increasing
3.15
QoQ: 23.53% | YoY: 17.10%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q3 2024 2,396.66 2.87 +8.7% View
Q2 2024 2,371.08 3.15 +7.3% View
Q1 2024 2,208.89 2.54 +10.4% View
Q4 2023 3,205.10 5.29 +15.6% View
Q3 2023 2,204.22 1.96 +18.7% View