Lululemon GAAP EPS of $2.54 beats by $0.12, revenue of $2.21B beats by $10M

Lululemon (NASDAQ: LULU): Q1 GAAP EPS of $2.54 beats by $0.12. Revenue of $2.21B (+10.5% Y/Y) beats by $10M. Comparable sales increased 6%, or 7% on a constant dollar basis. Gross margin increased 20 basis points to 57.7%. Operating margin decreased 5…