LULU
Lean bearish
Oct 28, 2026
· Lululemon Athletica Inc.
· edge 5/10· evidence 7/10
Mostly no — it's noise.
The bounce is narrative-driven (ex-Nike CEO plus new CPO/COO effective Oct 26) in a deeply de-rated stock with 95% idiosyncratic share vs SPY and visible sell-side skepticism (six Sell ratings, Wolfe Underperform at $75) — not a fundamentals signal. Underlying trends are still deteriorating: two FY guidance cuts, Q3 guided to -10-11% revenue and EPS of $0.93-0.98 vs $2.59 a…
Entry $104.59 (2026-10-27)
Outcome pending
LULU
No clear edge
Oct 7, 2026
· Lululemon Athletica Inc.
· evidence 8/10
Cheap, but prove it in December.
LULU is a classic cheap-vs-broken standoff. The bear case (structural share loss, margin structure built for growth that no longer exists, tariff drag) is largely in the price at 9.5x guided EPS and an 8-year low; the bull case requires only stabilization, not a growth recovery, and is backstopped by ~$1.4B cash, no debt, and ~$713M of buyback capacity. The deciding variable…
Entry $93.61 (2026-10-06)
1m vs SPY: +12.9% so far
LULU
Neutral
Sep 7, 2026
· Lululemon Athletica Inc.
· evidence 7/10
Yes — both, hard. Differently priced.
Both stocks have suffered ~50% drawdowns in a rising market (SPY +18.7% 1y) driven by company-specific deterioration, not sentiment. The dips are real but unconfirmed as bottoms: LULU just cut FY26 guidance twice (now $10.35-10.50B revenue, $9.48-9.73 EPS) amid -10% comps and a CEO transition, while NKE guided to continued revenue declines through H1 FY27 with China still weak…
Entry $100.61 (2026-09-04)
1m vs SPY: -6.0%