Lululemon reported strong Q1 fiscal 2024 results with revenue increasing 10% to $2.2B and diluted EPS of $2.54, up from $2.28 YoY. International revenue surged 35%, while Americas revenue grew 3%. Comparable sales increased 6% overall, with international markets showing robust 25% growth. Gross margin improved 20 basis points to 57.7%.The company's board approved a $1.0B increase to its existing stock repurchase program on May 29, 2024. During Q1, the company repurchased 0.8M shares for $296.9M, with approximately $1.7B now remaining in the authorized program. The company ended Q1 with $1.9B in cash and reduced inventory levels by 15% YoY to $1.3B.For fiscal 2024, Lululemon maintains its revenue guidance of $10.7B to $10.8B, representing 11-12% growth. Q2 revenue is expected to be $2.4-2.42B with diluted EPS of $2.92-2.97. The company continues to target operating margin of approximately 23.3% for the full year, with annual EPS projected at $14.27-14.47.

Lululemon reported strong Q1 fiscal 2024 results with revenue increasing 10% to $2.2B and diluted EPS of $2.54, up from $2.28 YoY. International revenue surged 35%, while Americas revenue grew 3%. Comparable sales increased 6% overall, with international markets showing robust 25% growth. Gross margin improved 20 basis points to 57.7%.The company's board approved a $1.0B increase to its existing stock repurchase program on May 29, 2024. During Q1, the company repurchased 0.8M shares for $296.9M, with approximately $1.7B now remaining in the authorized program. The company ended Q1 with $1.9B in cash and reduced inventory levels by 15% YoY to $1.3B.For fiscal 2024, Lululemon maintains its revenue guidance of $10.7B to $10.8B, representing 11-12% growth. Q2 revenue is expected to be $2.4-2.42B with diluted EPS of $2.92-2.97. The company continues to target operating margin of approximately 23.3% for the full year, with annual EPS projected at $14.27-14.47.