Jim Cramer on lululemon: "I Don't Understand LULU"

lululemon athletica inc. (NASDAQ:LULU) is one of the 12 stocks on Jim Cramer’s radar recently. When he asked about the company during the lightning round, Cramer commented:

“You know what… I did tell people that I thought it had bottomed, and I was dead wrong. And it’s important to own up that I was wrong. I thought it had come down enough that perhaps it could have bounced, and I didn’t get it right. So I’m going to punt and say I don’t understand LULU. I got it wrong, and let’s just move on.”

lululemon athletica (NASDAQ:LULU) designs and sells athletic apparel, footwear, and accessories for men and women. The company’s products are made for activities such as yoga, running, and training. On June 6, Cramer expressed his shock over the company’s recently reported quarter as he stated:

“I thought that LULU would do better. I thought that LULU would do better. I was quite surprised. I just, it was a bad conference call. It was a bad quarter. I am aghast to think that this could be… such a horrible situation. They had tariff problems. They had the wrong fashion. Everything went wrong for Calvin McDonald, and what can I say? I just don’t think he’s capable of being as bad as that stock was, 17 times earnings. It was a bad quarter, though. And you know… I’ve thought a lot about this, done a lot of soul searching, I am shocked at how they missed the quarter, and I wouldn’t be surprised if there weren’t some shakeups if that happened again.”

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