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Lululemon Athletica Inc. (NASDAQ: LULU) shares saw a great gain early Friday after the company announced its most recent quarterly results Thursday afternoon. The company said that it had $0.71 in earnings per share (EPS) and $724 million in revenue for the fiscal second quarter. That compares with consensus estimates of $0.49 in EPS and $669 million in revenue, as well as the $0.36 per share and $581.05 million posted in the same period of last year.

During the most recent quarter, total comparable sales increased 20%, or increased 19% on a constant dollar basis. Comparable store sales increased 10%, or increased 10% on a constant dollar basis.

At the same time, direct to consumer net revenue increased 48%, or 47% on a constant dollar basis. Excluding the impact of an online warehouse sale in 2017, direct to consumer net revenue increased 66%, or increased 65% on a constant dollar basis.

Looking ahead to the fiscal third quarter of 2018, the company expects to see EPS in the range of $0.65 to $0.67 and net revenue between $720 million and $730 million, with comparable sales increasing in the low teens on a constant dollar basis.

The consensus estimates call for $0.64 in EPS and $708.62 million in revenue, for the coming quarter.

Glenn Murphy, board chair, commented:

We are very pleased with the consistent performance of our business. On behalf of the Board, I want to welcome Calvin McDonald to lululemon and thank our management team for delivering these incredible results.

Shares of Lululemon closed Thursday at $137.00, with a consensus analyst price target of $130.82 and a 52-week trading range of $57.19 to $140.42. Following the announcement, the stock was up over 10% at $151.50 in early trading indications Friday.

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