Early Thursday, the yoga apparel maker reported earnings per share of $0.33, topping expectations for $0.29. Revenue in the second quarter totaled $390.7 million, beating estimates for $376.8 million.
Lululemon said total comparable store sales were flat in the second quarter, and on a constant dollar basis comparable store sales were down 5%.
Laurent Potdevin, lululemon's CEO, said in a statement: "We are pleased to be on track with the implementation of our strategic road map, and are starting to see the results of our work across product, brand and international expansion."
Lululemon's quarterly report is its first earnings announcement since founder Chip Wilson said on August 7 that he would sell 50% of his stake in the company for about $845. The agreement took Wilson's stake in the company to 13.85% from 27.7%.
Back in June, Lululemon shares were crushed after the company cut its full-year revenue outlook. On Thursday, Lululemon gave a full-year earnings and revenue outlook that was in-line with current expectations.
Lululemon expects full-year earnings per share of $1.72-$1.77 on revenue of $1.78-$1.8 billion; comparable store sales are expected to increase by low-single digits.