Lululemon Athletica Inc (LULU) Q2 2024 Earnings Report

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 men’s apparel sales and 6% in women’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 company’s expansion potential outside North America.