Lululemon Athletica, the popular yoga-pants maker, announced a significant increase in revenue for the fiscal second quarter ended July 31. The company's profit rose to $341.6 million, or $2.68 per share, compared to $289.5 million, or $2.26 per share, for the same period last year. This surpassed analysts' expectations of $2.55 per share. Lululemon had previously projected earnings per share of $2.47 to $2.52.
The company's revenue also saw a healthy boost, jumping 18% to $2.21 billion, surpassing analysts' forecast of $2.17 billion. The North American market saw an 11% increase in revenue, while international markets experienced a staggering 52% surge.
Furthermore, Lululemon achieved a notable 11% increase in total same-store sales, with an inventory of $1.7 billion, representing a 14% rise from the previous year.
The company's operating margin also improved, rising by 20 basis points to 21.7%. Lululemon attributed this success, in part, to the opening of 10 new company-operated stores during the quarter.
Looking ahead, Chief Financial Officer Meghan Frank expressed enthusiasm about their prospects in the second half of the year.
