Lululemon reported strong Q2 2024 results with net revenue increasing 7% to $2.37 billion, driven by significant growth in international markets. Gross profit rose 9% to $1.41 billion with gross margin expanding 80 basis points to 59.6%. Net income grew 15% to $392.9 million, with diluted EPS of $3.15.China Mainland revenue surged 34% to $314.2 million with comparable sales up 21%, while Rest of World revenue increased 24% to $315.5 million. Americas revenue grew modestly by 1% to $1.74 billion, though comparable sales declined 3%. The company maintained strong profitability with operating margin improving 110 basis points to 22.8%.The company continued its expansion with 49 net new stores opened year-over-year, including 25 in China Mainland. Management announced a $1.0 billion increase to its stock repurchase program in May 2024, with $1.3 billion remaining authorized for future repurchases. The company ended the quarter with $1.61 billion in cash and cash equivalents.

Lululemon reported strong Q2 2024 results with net revenue increasing 7% to $2.37 billion, driven by significant growth in international markets. Gross profit rose 9% to $1.41 billion with gross margin expanding 80 basis points to 59.6%. Net income grew 15% to $392.9 million, with diluted EPS of $3.15.China Mainland revenue surged 34% to $314.2 million with comparable sales up 21%, while Rest of World revenue increased 24% to $315.5 million. Americas revenue grew modestly by 1% to $1.74 billion, though comparable sales declined 3%. The company maintained strong profitability with operating margin improving 110 basis points to 22.8%.The company continued its expansion with 49 net new stores opened year-over-year, including 25 in China Mainland. Management announced a $1.0 billion increase to its stock repurchase program in May 2024, with $1.3 billion remaining authorized for future repurchases. The company ended the quarter with $1.61 billion in cash and cash equivalents.