lululemon reports Q1 EPS ex-items 34c, consensus 32c Reports Q1 revenue $384.6M, consensus $381.24M. Reports Q1 SSS on a combined basis up 1% on a constant dollar basis. Comparable corporate-store sales for Q1 decreased by 4% on a constant dollar basis and direct to consumer revenue increased 25% on a constant dollar basis. Laurent Potdevin, lululemonís CEO, stated: "We are pleased that Q1 results were slightly ahead of our expectations. 2014 is very much a transitional year for lululemon, and we are on track with the improvements we have set out to achieve. We are focused on building a scalable foundation to further elevate our North American business and pursue the brand's incredible international potential."