Michael Burry Sees Echoes Of His 2019 GameStop Bet In Lululemon: 'The Last Time I Owned A Stock As Hated...'

Famed "Big Short" investor  Michael Burry compared Lululemon Athletica Inc. (NASDAQ: LULU ) to GameStop Corp. (NYSE: GME ) , saying the apparel maker is the most hated stock he has owned since taking a position in the video-game retailer in 2019. “The last time I owned a stock as hated as $LULU was $GME in 2019,” Burry said in a post on X Sunday, drawing a parallel between the embattled apparel maker and one of Wall Street’s most famous contrarian trades. Why Investors Have Turned On Lululemon Shares of Lululemon plunged on Friday after the athleisure apparel maker’s latest earnings gave investors little confidence that a turnaround is imminent. While first-quarter revenue of $2.47 billion topped estimates, the company slashed its full-year outlook and projected second-quarter sales and earnings well below Wall Street expectations. Management pointed to ongoing weakness in North America, where revenue fell 3% year over year, and warned that softer demand is likely to persist in the near term. Profitability also came under pressure, with gross margin shrinking 410 basis points due to tariff-related costs, higher markdowns and fixed-cost deleveraging, prompting the company to cut its fiscal 2026 earnings forecast to $10.95-$11.15 per share from $12.10-$12.30 ... Full story available on Benzinga.com