Lululemon came in line with expectations
The company announced earnings for the second quarter of $0.38 per share, in line with expectations of $0.38 per share.
Additionally, Lululemon generated $514.5 million in revenue, a hair below expectations of $514.7 million. This was a 14% increase from the second quarter of fiscal 2015.
"Our progress in the second quarter, especially in gross margin and inventory, marks the beginning of our recovery in profitability and sustainable long term growth," Laurent Potdevin, Lululemon's CEO, wrote in the earnings release.
The stock was up 0.2% at $76.66 ahead of the earnings report.
Same store sales including direct-to-consumer, but excluding FX-adjustments rose 5.0%, below expectations of 5.9%, according to Bloomberg.