lululemon athletica inc. (LULU) Isn't Doing Great Right Now, Says Jim Cramer

lululemon athletica inc. (NASDAQ:LULU) is one of the Jim Cramer Says Oil Can Get Cheaper & Discusses These 12 Stocks .

lululemon athletica inc. (NASDAQ:LULU) is a Canadian fitness apparel company whose shares have been caught in the midst of a broader weakness in the retail market. The shares are down by 37% year-to-date on the back of a particularly vicious 19.8% dip in June. lululemon athletica inc. (NASDAQ:LULU)’s shares sank after management revealed that it might have to increase prices and absorb the impacts of tariffs on its income statement. In his earlier remarks about lululemon athletica inc. (NASDAQ:LULU), Cramer has wondered whether he misjudged the firm’s competition. This time around he mentioned the stock as an afterthought in the sectors that aren’t doing well right now:

“Remember, it’s certain, I’m saying, housing, that’s not great. Housing, auto, and Lulu.”

Cramer discussed lululemon athletica inc. (NASDAQ:LULU) in detail after the disastrous earnings report. Here is what he said:

“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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Disclosure: None. This article is originally published at Insider Monkey.