Lululemon Athletica (NASDAQ:LULU) reported a stronger than expected set of Q2 2021 results, with revenue rising 61% year-over-year to $1.45 billion and adjusted EPS coming in at $1.65, up from $0.74 in Q2 2020.
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The results were driven primarily by company-operated stores, which saw revenues rise 142% year-over-year. Direct to consumer revenue also rose by about 8%. Gross margins also increased 390 basis points versus last year.
Lululemon stock was up by almost 13% in Wednesday’s after-hours trading following the earnings report.
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