🕷️ Crawler Inspector

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1. Shard Calculation

Query:

Response:

Calculated Shard: 88 (from laksa094)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa088.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.fool.com/investing/2025/09/02/michael-burry-of-the-big-short-just-bought-shares/\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.fool.com/investing/2025/09/02/michael-burry-of-the-big-short-just-bought-shares/\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.fool.com\/investing\/2025\/09\/02\/michael-burry-of-the-big-short-just-bought-shares\/","crawl_time":1774937192,"first_indexed_time":1756825472,"http_code":200,"src_unparsed":"com,fool!www,\/investing\/2025\/09\/02\/michael-burry-of-the-big-short-just-bought-shares\/ s443","src_root_hash":"16263700115757751488","history_drop_reason":null,"meta_title":"Michael Burry of \"The Big Short\" Just Bought Shares of This Beaten-Down Activewear Stock (Not Nike) | The Motley Fool","meta_descriptions":["It's trading at its lowest-ever valuation."],"attrs_boilerpipe_text":"Michael Burry, who runs Scion Asset Management, gained fame after his incredible play on the mortgage crisis was chronicled in the Michael Lewis book (and subsequent movie)\nThe Big Short\n. At the time, he was just getting started. Today, he manages a portfolio worth nearly $600 million.\nUnlike many\nhedge funds\n, his fund owns very few stocks, and he makes options a central component of his strategy. That makes sense for someone who rose to prominence through a contrarian\nshort scheme\n. As of the end of the second quarter, Scion owns only six stocks, plus an assortment of call options.\nOne of Burry's new positions is struggling activewear giant\nLululemon Athletica\n(\nLULU\n0.02%\n)\n. Let's find out what this contrarian player might see in Lululemon and whether it's a good play for the average investor.\nImage source: Getty Images.\nNo longer the new name in activewear\nLululemon helped popularize the athleisure trend that made gym clothes an everyday staple and became part of the reason several officewear brands went under. It was thriving before the pandemic, but remote work was a strong tailwind when offices closed down.\nMore recently, however, Lululemon has been struggling, or at least decelerating. There are a number of reasons it's had a falling out with the market, including missing the seasonal colors that are vital to resonating with its consumer base, being subject to tariffs as a foreign company (it's based in Canada), not having enough inventory of its most popular items, and growing competition in the premium activewear market.\nIn some ways, it's been a victim of its own success, since its affluent customers want the most premium experience, and there are always new players who can enter and vie for that position. Also, as return-to-work orders abound, investors are concerned that these trends will only deepen. That's quite a load of issues, and Lululemon stock has tumbled 60% off of its all-time highs.\nLULU\nToday's Change\n(-0.02%) $-0.03\nCurrent Price\n$145.82\nNot just yoga pants\nIt's not that bad. Here's how Lululemon performed in the 2025 fiscal first quarter (ended May 4):\nRevenue increased 7% year over year.\nComparable sales were up 1%.\nGross profit\nwas up 8%, and gross margin was up 60 basis points.\nOperating income\nwas up 1%, but operating margin was down 110 basis points.\nEarnings per share (EPS) increased from $2.54 last year to $2.60 this year.\nLululemon had a strong quarter internationally, where sales increased 19% over last year. CEO Calvin McDonald noted that U.S. customers are being more intentional about their buying behavior, considering the pressure in the economy.\nThe business performed particularly well in China, where sales increased 22% over last year, and where it's expecting sales to grow 25% to 30% this year. It's expecting to open 40 to 45 new stores for the year, most of which will be in China. This is a huge market opportunity and demonstrates that even if Lululemon is facing more brand competition in the U.S., it's still a hot brand in China.\nAs a premium brand, Lululemon may lose out when there's high inflation. That points to its status among mass consumers, who typically reach to afford the company's premium products. That's usually a good thing for the company, but since it relies on these customers to generate growth, it may feel changes in the economy more acutely that brands that are ultra-luxury and don't reach a mass consumer base.\nKeep your eye on the ball\nLululemon has developed a huge and growing global business and remains a popular brand. That gives it some edge over newcomers, and it's working to protect that by sticking to its successful formula: creating innovative, stylish products that bring value to its users. There have been many knockoffs of Lululemon's best-selling and genre-redefining men's dress pant, for example, but people who pay for Lululemon's quality and patented fabrics get it.\n\"Key to our success within all our markets is our product,\" McDonald said, \"which offers unique and innovative solutions for guests across both athletic and lifestyle product categories.\" He mentioned several new lines for women, including Daydrift, Shake It Out, and Be Calm, and said that customers \"responded well to the newness.\"\nDespite that effort, Lululemon stock is trading at its cheapest-ever\nforward, one-year P\/E ratio\n. It trades at only 13 times forward, one-year earnings, near an all-time low, and likely lower than when Burry took a position.\nLULU PE Ratio (Forward 1y)\ndata by\nYCharts\nHe also bought\ncall options\n, which are a straight-out signal that he thinks the stock price will rise. At this price, and with the company's continued opportunity, that's likely to happen soon enough. Lululemon reports second-quarter earnings this week, and there's a chance the stock will already begin to climb on the update.","attrs_markdown":"[Accessibility Menu](https:\/\/www.fool.com\/investing\/2025\/09\/02\/michael-burry-of-the-big-short-just-bought-shares\/)\n\nSearch for a company\n\n[Accessibility](https:\/\/www.fool.com\/investing\/2025\/09\/02\/michael-burry-of-the-big-short-just-bought-shares\/)\n\nLog In\n\n[Help](https:\/\/support.fool.com\/)\n\n[![The Motley Fool](https:\/\/g.foolcdn.com\/misc-assets\/logo-tmf-primary-1-magenta-purple-reversed.svg?_w=320)![The Motley Fool](https:\/\/g.foolcdn.com\/image\/?url=https%3A%2F%2Fg.foolcdn.com%2Fmisc-assets%2Ftmf_holdingco_logo_stacked_magenta_royalpurple_rev.png&w=96&op=resize)](https:\/\/www.fool.com\/)\n\n- Our Services\n  [All Services](https:\/\/www.fool.com\/services\/)[Stock Advisor](https:\/\/www.fool.com\/services\/stock-advisor\/)[Epic](https:\/\/www.fool.com\/services\/epic\/)[Epic 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+\\$10.81](https:\/\/www.fool.com\/quote\/nasdaq\/meta\/)\n\n[MSFT \\$359.02+0.6% +\\$2.25](https:\/\/www.fool.com\/quote\/nasdaq\/msft\/)\n\n[NVDA \\$165.18-1.4% -\\$2.34](https:\/\/www.fool.com\/quote\/nasdaq\/nvda\/)\n\n[TSLA \\$355.25-1.8% -\\$6.58](https:\/\/www.fool.com\/quote\/nasdaq\/tsla\/)\n\n[Most Active Stocks](https:\/\/www.fool.com\/markets\/most-active-stocks\/)[Daily Stock Gainers](https:\/\/www.fool.com\/markets\/top-stock-gainers\/)[Daily Stock Losers](https:\/\/www.fool.com\/markets\/top-stock-losers\/)\n\n[Most Active Stocks](https:\/\/www.fool.com\/markets\/most-active-stocks\/)[Daily Stock Gainers](https:\/\/www.fool.com\/markets\/top-stock-gainers\/)[Daily Stock Losers](https:\/\/www.fool.com\/markets\/top-stock-losers\/)\n\nFree Article[Explore Premium Services](https:\/\/www.fool.com\/services\/)\n\n# Michael Burry of \"The Big Short\" Just Bought Shares of This Beaten-Down Activewear Stock (Not Nike)\nIt's trading at its lowest-ever valuation.\n\nBy [Jennifer Saibil](https:\/\/www.fool.com\/author\/20154\/) – Updated Sep 2, 2025 at 10:07AM EST\n\n[Follow us](https:\/\/profile.google.com\/cp\/CgkvbS8wNTc4bWs)\n\nShare\n\nSummarize with AI\n\n## Key Points\n- Michael Burry loaded up on Lululemon stock and call options in the second quarter.\n- The apparel maker faces a group of issues today, but is still growing sales and earnings.\n- It's constantly refreshing its products to meet the needs of its users, and they're responding.\n\nMichael Burry, who runs Scion Asset Management, gained fame after his incredible play on the mortgage crisis was chronicled in the Michael Lewis book (and subsequent movie) *The Big Short*. At the time, he was just getting started. Today, he manages a portfolio worth nearly \\$600 million.\n\nUnlike many [hedge funds](https:\/\/www.fool.com\/investing\/how-to-invest\/hedge-fund\/), his fund owns very few stocks, and he makes options a central component of his strategy. That makes sense for someone who rose to prominence through a contrarian [short scheme](https:\/\/www.fool.com\/terms\/s\/shorting-a-stock-meaning\/). As of the end of the second quarter, Scion owns only six stocks, plus an assortment of call options.\n\nOne of Burry's new positions is struggling activewear giant **Lululemon Athletica** ([LULU](https:\/\/www.fool.com\/quote\/nasdaq\/lulu\/) 0\\.02%). Let's find out what this contrarian player might see in Lululemon and whether it's a good play for the average investor.\n\n![A person in a yoga position.](https:\/\/g.foolcdn.com\/image\/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F831541%2Fmature-woman-meditating-calm-2121x1414-ab440fd.jpg&w=3840&op=resize)\n\nImage source: Getty Images.\n## No longer the new name in activewear\nLululemon helped popularize the athleisure trend that made gym clothes an everyday staple and became part of the reason several officewear brands went under. It was thriving before the pandemic, but remote work was a strong tailwind when offices closed down.\n\nMore recently, however, Lululemon has been struggling, or at least decelerating. There are a number of reasons it's had a falling out with the market, including missing the seasonal colors that are vital to resonating with its consumer base, being subject to tariffs as a foreign company (it's based in Canada), not having enough inventory of its most popular items, and growing competition in the premium activewear market.\n\nIn some ways, it's been a victim of its own success, since its affluent customers want the most premium experience, and there are always new players who can enter and vie for that position. Also, as return-to-work orders abound, investors are concerned that these trends will only deepen. That's quite a load of issues, and Lululemon stock has tumbled 60% off of its all-time highs.\n\nCollapse\n\nLULU\n\n## [NASDAQ: LULU](https:\/\/www.fool.com\/quote\/nasdaq\/lulu\/)\nLululemon Athletica Inc.\n\nToday's Change\n\n(-0.02%) \\$-0.03\n\nCurrent Price\n\n\\$145.82\n\nUnable to reach the data service. Please check your connection.\n\nYTD\n\n1w\n\n1m\n\n3m\n\n6m\n\n1y\n\n5y\n\nPrice\n\nVS S\\&P\n\n### Key Data Points\nMarket Cap\n\n\\$17B\n\nDay's Range\n\n\\$145.38 - \\$148.83\n\n52wk Range\n\n\\$143.96 - \\$340.25\n\nVolume\n\n128K\n\nAvg Vol\n\n2\\.8M\n\nGross Margin\n\n56\\.54%\n## Not just yoga pants\nIt's not that bad. Here's how Lululemon performed in the 2025 fiscal first quarter (ended May 4):\n\n- Revenue increased 7% year over year.\n- Comparable sales were up 1%.\n- [Gross profit](https:\/\/www.fool.com\/terms\/g\/gross-profit\/) was up 8%, and gross margin was up 60 basis points.\n- [Operating income](https:\/\/www.fool.com\/terms\/n\/net-operating-income\/) was up 1%, but operating margin was down 110 basis points.\n- Earnings per share (EPS) increased from \\$2.54 last year to \\$2.60 this year.\n\nLululemon had a strong quarter internationally, where sales increased 19% over last year. CEO Calvin McDonald noted that U.S. customers are being more intentional about their buying behavior, considering the pressure in the economy.\n\nThe business performed particularly well in China, where sales increased 22% over last year, and where it's expecting sales to grow 25% to 30% this year. It's expecting to open 40 to 45 new stores for the year, most of which will be in China. This is a huge market opportunity and demonstrates that even if Lululemon is facing more brand competition in the U.S., it's still a hot brand in China.\n\nAs a premium brand, Lululemon may lose out when there's high inflation. That points to its status among mass consumers, who typically reach to afford the company's premium products. That's usually a good thing for the company, but since it relies on these customers to generate growth, it may feel changes in the economy more acutely that brands that are ultra-luxury and don't reach a mass consumer base.\n\n## Keep your eye on the ball\nLululemon has developed a huge and growing global business and remains a popular brand. That gives it some edge over newcomers, and it's working to protect that by sticking to its successful formula: creating innovative, stylish products that bring value to its users. There have been many knockoffs of Lululemon's best-selling and genre-redefining men's dress pant, for example, but people who pay for Lululemon's quality and patented fabrics get it.\n\n\"Key to our success within all our markets is our product,\" McDonald said, \"which offers unique and innovative solutions for guests across both athletic and lifestyle product categories.\" He mentioned several new lines for women, including Daydrift, Shake It Out, and Be Calm, and said that customers \"responded well to the newness.\"\n\nDespite that effort, Lululemon stock is trading at its cheapest-ever [forward, one-year P\/E ratio](https:\/\/www.fool.com\/terms\/f\/forward-pe\/). It trades at only 13 times forward, one-year earnings, near an all-time low, and likely lower than when Burry took a position.\n\n[![LULU PE Ratio (Forward 1y) Chart](https:\/\/media.ycharts.com\/charts\/5bc07eacf62c8df9d95f2de2e6ef1674.png)](https:\/\/ycharts.com\/companies\/LULU\/chart\/)\n\n[LULU PE Ratio (Forward 1y)](https:\/\/ycharts.com\/companies\/LULU\/forward_pe_ratio_1y) data by [YCharts](https:\/\/ycharts.com\/)\n\nHe also bought [call options](https:\/\/www.fool.com\/investing\/how-to-invest\/stocks\/call-options-vs-put-options\/), which are a straight-out signal that he thinks the stock price will rise. At this price, and with the company's continued opportunity, that's likely to happen soon enough. Lululemon reports second-quarter earnings this week, and there's a chance the stock will already begin to climb on the update.\n\n## Read Next\nMar 23, 2026\n\n•By [Catie Hogan](https:\/\/www.fool.com\/author\/20674\/)\n\n[Lululemon's Corporate Struggles Continue, but Is a Turnaround on the Horizon?](https:\/\/www.fool.com\/investing\/2026\/03\/23\/lululemons-corporate-struggles-continue-but-is-a\/)\n\nMar 22, 2026\n\n•By [Adam Levy](https:\/\/www.fool.com\/author\/2330\/)\n\n[1 Incredible Value Stock Down 68% to Buy Now Before It Rebounds](https:\/\/www.fool.com\/investing\/2026\/03\/22\/1-incredible-value-stock-down-68-to-buy-now-before\/)\n\nMar 22, 2026\n\n•By [Rachel Warren](https:\/\/www.fool.com\/author\/20250\/)\n\n[Best Apparel Stocks to Buy in 2026 and How to Invest in Them](https:\/\/www.fool.com\/investing\/stock-market\/market-sectors\/consumer-discretionary\/apparel-stocks\/)\n\nMar 21, 2026\n\n•By [Geoffrey Seiler](https:\/\/www.fool.com\/author\/20615\/)\n\n[Can Lululemon Stock Recover?](https:\/\/www.fool.com\/investing\/2026\/03\/21\/can-lululemon-stock-recover\/)\n\nMar 19, 2026\n\n•By [Parkev Tatevosian, CFA](https:\/\/www.fool.com\/author\/20206\/)\n\n[Should Investors Buy Lululemon Stock?](https:\/\/www.fool.com\/investing\/2026\/03\/19\/should-investors-buy-lululemon-stock\/)\n\nMar 19, 2026\n\n•By [Jeremy Bowman](https:\/\/www.fool.com\/author\/1957\/)\n\n[Down 68%, This Growth Stock Looks Oversold. Is It a Buy?](https:\/\/www.fool.com\/investing\/2026\/03\/19\/down-68-this-growth-stock-looks-oversold-is-it-a-b\/)\n\n### About the Author\n![Jennifer Saibil](https:\/\/g.foolcdn.com\/avatar\/2046366227\/large.ashx?_w=3840)\n\nJennifer Saibil has been a contributing Motley Fool stock market analyst covering the consumer goods and financial sectors since 2019. She previously worked in the financial sector and has written for other finance publications. She holds a bachelor’s degree in finance from Yeshiva University and a master’s degree in public administration from New York University’s Wagner School of Public Service.\n\n[TMFanibird](https:\/\/www.fool.com\/author\/20154\/)\n\n*[Jennifer Saibil](https:\/\/www.fool.com\/author\/20154\/) has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Lululemon Athletica Inc. The Motley Fool has a [disclosure policy](https:\/\/www.fool.com\/legal\/fool-disclosure-policy\/).*\n\n### Stocks Mentioned\n[LU Lululemon Athletica Inc. NASDAQ: LULU\\$145.83 (-0.02%)-\\$0.03](https:\/\/www.fool.com\/quote\/nasdaq\/lulu\/)\n\n\\*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.\n\n## Premium Investing Services\nInvest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.\n\n[View Premium Services](https:\/\/www.fool.com\/services\/?ftm_cam=footer-services-sitewide-prospects)\n\n[![The Motley Fool](https:\/\/g.foolcdn.com\/misc-assets\/logo-tmf-primary-1-magenta-purple.svg?_w=320)](https:\/\/www.fool.com\/)\n\nMaking the world smarter, happier, and richer.\n\n- [Facebook](https:\/\/www.facebook.com\/themotleyfool)\n- [Twitter](https:\/\/x.com\/TheMotleyFool)\n- [LinkedIn](https:\/\/www.linkedin.com\/company\/the-motley-fool\/)\n- [Pinterest](https:\/\/www.pinterest.com\/themotleyfool\/)\n- [YouTube](https:\/\/www.youtube.com\/user\/TheMotleyFool)\n- [Instagram](https:\/\/www.instagram.com\/themotleyfoolofficial\/)\n- [TikTok](https:\/\/www.tiktok.com\/@themotleyfoolofficial)\n\n© 1995 - 2026 The Motley Fool. All rights reserved.\n\nMarket data powered by [Xignite](https:\/\/xignite.com\/) and [Polygon.io](https:\/\/polygon.io\/).\n\nAbout The Motley Fool\n\n- [About Us](https:\/\/www.fool.com\/about\/)\n- [Careers](https:\/\/careers.fool.com\/)\n- [Research](https:\/\/www.fool.com\/research\/)\n- [Newsroom](https:\/\/www.fool.com\/contact\/newsroom\/)\n- [Contact](https:\/\/www.fool.com\/legal\/contact-us\/)\n- [Advertise](https:\/\/www.fool.com\/cdn-cgi\/l\/email-protection#3253565b5c43475b405b574172545d5d5e1c515d5f)\n\nOur Services\n\n- [All Services](https:\/\/www.fool.com\/services\/)\n- [Stock Advisor](https:\/\/www.fool.com\/services\/stock-advisor\/)\n- [Epic](https:\/\/www.fool.com\/services\/epic\/)\n- [Epic Plus](https:\/\/www.fool.com\/services\/epic-plus\/)\n- [Fool Portfolios](https:\/\/www.fool.com\/services\/fool-portfolios\/)\n- [Fool One](https:\/\/www.fool.com\/services\/one\/)\n- [Motley Fool Money](https:\/\/www.fool.com\/money\/)\n\nAround the Globe\n\n- [Fool UK](https:\/\/www.fool.co.uk\/)\n- [Fool Australia](https:\/\/www.fool.com.au\/)\n- [Fool Canada](https:\/\/www.fool.ca\/)\n\nFree Tools\n\n- [CAPS Stock Ratings](https:\/\/caps.fool.com\/)\n- [Discussion Boards](https:\/\/discussion.fool.com\/)\n- [Calculators](https:\/\/www.fool.com\/calculators\/index\/)\n- [Financial Dictionary](https:\/\/www.fool.com\/terms\/)\n\nAffiliates & Friends\n\n- [Motley Fool Asset Management](https:\/\/www.fool.com\/affiliates\/mfam\/)\n- [Motley Fool Wealth Management](https:\/\/www.fool.com\/affiliates\/mfwm\/)\n- [Motley Fool Ventures](https:\/\/www.fool.com\/affiliates\/ventures\/)\n- [Fool Community Foundation](https:\/\/www.fool.com\/affiliates\/foundation\/)\n- [Become an Affiliate Partner](https:\/\/www.fool.com\/affiliates\/)\n\n- [Terms of Use](https:\/\/www.fool.com\/legal\/terms-and-conditions\/fool-rules\/ \"Terms of Use\")\n- [Privacy Policy](https:\/\/www.fool.com\/legal\/privacy-statement\/ \"Privacy Policy\")\n- [Disclosure Policy](https:\/\/www.fool.com\/legal\/fool-disclosure-policy\/ \"Disclosure Policy\")\n- [Accessibility Policy](https:\/\/www.fool.com\/legal\/accessibility-policy\/ \"Accessibility Policy\")\n- [Copyright, Trademark and Patent Information](https:\/\/www.fool.com\/legal\/stuff-we-own\/ \"Copyright, Trademark and Patent Information\")\n- [Terms and Conditions](https:\/\/www.fool.com\/legal\/terms-and-conditions\/ \"Terms and Conditions\")\n- [Do Not Sell My Personal Information](https:\/\/www.fool.com\/data-protection\/ccpa-update\/ \"Do Not Sell My Personal Information\")","attrs_readable_markdown":"Michael Burry, who runs Scion Asset Management, gained fame after his incredible play on the mortgage crisis was chronicled in the Michael Lewis book (and subsequent movie) *The Big Short*. At the time, he was just getting started. Today, he manages a portfolio worth nearly \\$600 million.\n\nUnlike many [hedge funds](https:\/\/www.fool.com\/investing\/how-to-invest\/hedge-fund\/), his fund owns very few stocks, and he makes options a central component of his strategy. That makes sense for someone who rose to prominence through a contrarian [short scheme](https:\/\/www.fool.com\/terms\/s\/shorting-a-stock-meaning\/). As of the end of the second quarter, Scion owns only six stocks, plus an assortment of call options.\n\nOne of Burry's new positions is struggling activewear giant **Lululemon Athletica** ([LULU](https:\/\/www.fool.com\/quote\/nasdaq\/lulu\/) 0\\.02%). Let's find out what this contrarian player might see in Lululemon and whether it's a good play for the average investor.\n\n![A person in a yoga position.](https:\/\/g.foolcdn.com\/image\/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F831541%2Fmature-woman-meditating-calm-2121x1414-ab440fd.jpg&w=3840&op=resize)\n\nImage source: Getty Images.\n## No longer the new name in activewear\nLululemon helped popularize the athleisure trend that made gym clothes an everyday staple and became part of the reason several officewear brands went under. It was thriving before the pandemic, but remote work was a strong tailwind when offices closed down.\n\nMore recently, however, Lululemon has been struggling, or at least decelerating. There are a number of reasons it's had a falling out with the market, including missing the seasonal colors that are vital to resonating with its consumer base, being subject to tariffs as a foreign company (it's based in Canada), not having enough inventory of its most popular items, and growing competition in the premium activewear market.\n\nIn some ways, it's been a victim of its own success, since its affluent customers want the most premium experience, and there are always new players who can enter and vie for that position. Also, as return-to-work orders abound, investors are concerned that these trends will only deepen. That's quite a load of issues, and Lululemon stock has tumbled 60% off of its all-time highs.\n\nLULU\n\nToday's Change\n\n(-0.02%) \\$-0.03\n\nCurrent Price\n\n\\$145.82\n## Not just yoga pants\nIt's not that bad. Here's how Lululemon performed in the 2025 fiscal first quarter (ended May 4):\n\n- Revenue increased 7% year over year.\n- Comparable sales were up 1%.\n- [Gross profit](https:\/\/www.fool.com\/terms\/g\/gross-profit\/) was up 8%, and gross margin was up 60 basis points.\n- [Operating income](https:\/\/www.fool.com\/terms\/n\/net-operating-income\/) was up 1%, but operating margin was down 110 basis points.\n- Earnings per share (EPS) increased from \\$2.54 last year to \\$2.60 this year.\n\nLululemon had a strong quarter internationally, where sales increased 19% over last year. CEO Calvin McDonald noted that U.S. customers are being more intentional about their buying behavior, considering the pressure in the economy.\n\nThe business performed particularly well in China, where sales increased 22% over last year, and where it's expecting sales to grow 25% to 30% this year. It's expecting to open 40 to 45 new stores for the year, most of which will be in China. This is a huge market opportunity and demonstrates that even if Lululemon is facing more brand competition in the U.S., it's still a hot brand in China.\n\nAs a premium brand, Lululemon may lose out when there's high inflation. That points to its status among mass consumers, who typically reach to afford the company's premium products. That's usually a good thing for the company, but since it relies on these customers to generate growth, it may feel changes in the economy more acutely that brands that are ultra-luxury and don't reach a mass consumer base.\n\n## Keep your eye on the ball\nLululemon has developed a huge and growing global business and remains a popular brand. That gives it some edge over newcomers, and it's working to protect that by sticking to its successful formula: creating innovative, stylish products that bring value to its users. There have been many knockoffs of Lululemon's best-selling and genre-redefining men's dress pant, for example, but people who pay for Lululemon's quality and patented fabrics get it.\n\n\"Key to our success within all our markets is our product,\" McDonald said, \"which offers unique and innovative solutions for guests across both athletic and lifestyle product categories.\" He mentioned several new lines for women, including Daydrift, Shake It Out, and Be Calm, and said that customers \"responded well to the newness.\"\n\nDespite that effort, Lululemon stock is trading at its cheapest-ever [forward, one-year P\/E ratio](https:\/\/www.fool.com\/terms\/f\/forward-pe\/). It trades at only 13 times forward, one-year earnings, near an all-time low, and likely lower than when Burry took a position.\n\n[![LULU PE Ratio (Forward 1y) Chart](https:\/\/media.ycharts.com\/charts\/5bc07eacf62c8df9d95f2de2e6ef1674.png)](https:\/\/ycharts.com\/companies\/LULU\/chart\/)\n\n[LULU PE Ratio (Forward 1y)](https:\/\/ycharts.com\/companies\/LULU\/forward_pe_ratio_1y) data by [YCharts](https:\/\/ycharts.com\/)\n\nHe also bought [call options](https:\/\/www.fool.com\/investing\/how-to-invest\/stocks\/call-options-vs-put-options\/), which are a straight-out signal that he thinks the stock price will rise. At this price, and with the company's continued opportunity, that's likely to happen soon enough. Lululemon reports second-quarter earnings this week, and there's a chance the stock will already begin to climb on the update.","meta_canonical":null}

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Boilerpipe Text	Michael Burry, who runs Scion Asset Management, gained fame after his incredible play on the mortgage crisis was chronicled in the Michael Lewis book (and subsequent movie) The Big Short . At the time, he was just getting started. Today, he manages a portfolio worth nearly $600 million. Unlike many hedge funds , his fund owns very few stocks, and he makes options a central component of his strategy. That makes sense for someone who rose to prominence through a contrarian short scheme . As of the end of the second quarter, Scion owns only six stocks, plus an assortment of call options. One of Burry's new positions is struggling activewear giant Lululemon Athletica ( LULU 0.02% ) . Let's find out what this contrarian player might see in Lululemon and whether it's a good play for the average investor. Image source: Getty Images. No longer the new name in activewear Lululemon helped popularize the athleisure trend that made gym clothes an everyday staple and became part of the reason several officewear brands went under. It was thriving before the pandemic, but remote work was a strong tailwind when offices closed down. More recently, however, Lululemon has been struggling, or at least decelerating. There are a number of reasons it's had a falling out with the market, including missing the seasonal colors that are vital to resonating with its consumer base, being subject to tariffs as a foreign company (it's based in Canada), not having enough inventory of its most popular items, and growing competition in the premium activewear market. In some ways, it's been a victim of its own success, since its affluent customers want the most premium experience, and there are always new players who can enter and vie for that position. Also, as return-to-work orders abound, investors are concerned that these trends will only deepen. That's quite a load of issues, and Lululemon stock has tumbled 60% off of its all-time highs. LULU Today's Change (-0.02%) $-0.03 Current Price $145.82 Not just yoga pants It's not that bad. Here's how Lululemon performed in the 2025 fiscal first quarter (ended May 4): Revenue increased 7% year over year. Comparable sales were up 1%. Gross profit was up 8%, and gross margin was up 60 basis points. Operating income was up 1%, but operating margin was down 110 basis points. Earnings per share (EPS) increased from $2.54 last year to $2.60 this year. Lululemon had a strong quarter internationally, where sales increased 19% over last year. CEO Calvin McDonald noted that U.S. customers are being more intentional about their buying behavior, considering the pressure in the economy. The business performed particularly well in China, where sales increased 22% over last year, and where it's expecting sales to grow 25% to 30% this year. It's expecting to open 40 to 45 new stores for the year, most of which will be in China. This is a huge market opportunity and demonstrates that even if Lululemon is facing more brand competition in the U.S., it's still a hot brand in China. As a premium brand, Lululemon may lose out when there's high inflation. That points to its status among mass consumers, who typically reach to afford the company's premium products. That's usually a good thing for the company, but since it relies on these customers to generate growth, it may feel changes in the economy more acutely that brands that are ultra-luxury and don't reach a mass consumer base. Keep your eye on the ball Lululemon has developed a huge and growing global business and remains a popular brand. That gives it some edge over newcomers, and it's working to protect that by sticking to its successful formula: creating innovative, stylish products that bring value to its users. There have been many knockoffs of Lululemon's best-selling and genre-redefining men's dress pant, for example, but people who pay for Lululemon's quality and patented fabrics get it. "Key to our success within all our markets is our product," McDonald said, "which offers unique and innovative solutions for guests across both athletic and lifestyle product categories." He mentioned several new lines for women, including Daydrift, Shake It Out, and Be Calm, and said that customers "responded well to the newness." Despite that effort, Lululemon stock is trading at its cheapest-ever forward, one-year P/E ratio . It trades at only 13 times forward, one-year earnings, near an all-time low, and likely lower than when Burry took a position. LULU PE Ratio (Forward 1y) data by YCharts He also bought call options , which are a straight-out signal that he thinks the stock price will rise. At this price, and with the company's continued opportunity, that's likely to happen soon enough. Lululemon reports second-quarter earnings this week, and there's a chance the stock will already begin to climb on the update.
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[Top 10 Stocks to Buy Now ›](https://api.fool.com/infotron/splitter/route/article-template-button?apikey=5c8e52dd-1bea-455e-87f5-d5506e590f21) [Top 10 Stocks to Buy Now ›](https://api.fool.com/infotron/splitter/route/article-template-button?apikey=5c8e52dd-1bea-455e-87f5-d5506e590f21) [S\&P 500 6,343.72-0.4% -25.13](https://www.fool.com/quote/snpindex/^gspc/) [DJI 45,216.14+0.1% +49.50](https://www.fool.com/quote/djindices/^dji/) [NASDAQ 20,794.64-0.7% -153.72](https://www.fool.com/quote/nasdaqindex/^ixic/) [Bitcoin \$67,628.00+0.2% +\$132.12](https://www.fool.com/quote/crypto/btc/) [AMZN \$200.95+0.8% +\$1.61](https://www.fool.com/quote/nasdaq/amzn/) [GOOG \$273.14-0.2% -\$0.62](https://www.fool.com/quote/nasdaq/goog/) [META \$536.53+2.1% +\$10.81](https://www.fool.com/quote/nasdaq/meta/) [MSFT \$359.02+0.6% +\$2.25](https://www.fool.com/quote/nasdaq/msft/) [NVDA \$165.18-1.4% -\$2.34](https://www.fool.com/quote/nasdaq/nvda/) [TSLA \$355.25-1.8% -\$6.58](https://www.fool.com/quote/nasdaq/tsla/) [Most Active Stocks](https://www.fool.com/markets/most-active-stocks/)[Daily Stock Gainers](https://www.fool.com/markets/top-stock-gainers/)[Daily Stock Losers](https://www.fool.com/markets/top-stock-losers/) [Most Active Stocks](https://www.fool.com/markets/most-active-stocks/)[Daily Stock Gainers](https://www.fool.com/markets/top-stock-gainers/)[Daily Stock Losers](https://www.fool.com/markets/top-stock-losers/) Free Article[Explore Premium Services](https://www.fool.com/services/) # Michael Burry of "The Big Short" Just Bought Shares of This Beaten-Down Activewear Stock (Not Nike) It's trading at its lowest-ever valuation. By [Jennifer Saibil](https://www.fool.com/author/20154/) – Updated Sep 2, 2025 at 10:07AM EST [Follow us](https://profile.google.com/cp/CgkvbS8wNTc4bWs) Share Summarize with AI ## Key Points - Michael Burry loaded up on Lululemon stock and call options in the second quarter. - The apparel maker faces a group of issues today, but is still growing sales and earnings. - It's constantly refreshing its products to meet the needs of its users, and they're responding. Michael Burry, who runs Scion Asset Management, gained fame after his incredible play on the mortgage crisis was chronicled in the Michael Lewis book (and subsequent movie) The Big Short. At the time, he was just getting started. Today, he manages a portfolio worth nearly \$600 million. Unlike many [hedge funds](https://www.fool.com/investing/how-to-invest/hedge-fund/), his fund owns very few stocks, and he makes options a central component of his strategy. That makes sense for someone who rose to prominence through a contrarian [short scheme](https://www.fool.com/terms/s/shorting-a-stock-meaning/). As of the end of the second quarter, Scion owns only six stocks, plus an assortment of call options. One of Burry's new positions is struggling activewear giant Lululemon Athletica ([LULU](https://www.fool.com/quote/nasdaq/lulu/) 0\.02%). Let's find out what this contrarian player might see in Lululemon and whether it's a good play for the average investor. ![A person in a yoga position.](https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F831541%2Fmature-woman-meditating-calm-2121x1414-ab440fd.jpg&w=3840&op=resize) Image source: Getty Images. ## No longer the new name in activewear Lululemon helped popularize the athleisure trend that made gym clothes an everyday staple and became part of the reason several officewear brands went under. It was thriving before the pandemic, but remote work was a strong tailwind when offices closed down. More recently, however, Lululemon has been struggling, or at least decelerating. There are a number of reasons it's had a falling out with the market, including missing the seasonal colors that are vital to resonating with its consumer base, being subject to tariffs as a foreign company (it's based in Canada), not having enough inventory of its most popular items, and growing competition in the premium activewear market. In some ways, it's been a victim of its own success, since its affluent customers want the most premium experience, and there are always new players who can enter and vie for that position. Also, as return-to-work orders abound, investors are concerned that these trends will only deepen. That's quite a load of issues, and Lululemon stock has tumbled 60% off of its all-time highs. Collapse LULU ## [NASDAQ: LULU](https://www.fool.com/quote/nasdaq/lulu/) Lululemon Athletica Inc. Today's Change (-0.02%) \$-0.03 Current Price \$145.82 Unable to reach the data service. Please check your connection. YTD 1w 1m 3m 6m 1y 5y Price VS S\&P ### Key Data Points Market Cap \$17B Day's Range \$145.38 - \$148.83 52wk Range \$143.96 - \$340.25 Volume 128K Avg Vol 2\.8M Gross Margin 56\.54% ## Not just yoga pants It's not that bad. Here's how Lululemon performed in the 2025 fiscal first quarter (ended May 4): - Revenue increased 7% year over year. - Comparable sales were up 1%. - [Gross profit](https://www.fool.com/terms/g/gross-profit/) was up 8%, and gross margin was up 60 basis points. - [Operating income](https://www.fool.com/terms/n/net-operating-income/) was up 1%, but operating margin was down 110 basis points. - Earnings per share (EPS) increased from \$2.54 last year to \$2.60 this year. Lululemon had a strong quarter internationally, where sales increased 19% over last year. CEO Calvin McDonald noted that U.S. customers are being more intentional about their buying behavior, considering the pressure in the economy. The business performed particularly well in China, where sales increased 22% over last year, and where it's expecting sales to grow 25% to 30% this year. It's expecting to open 40 to 45 new stores for the year, most of which will be in China. This is a huge market opportunity and demonstrates that even if Lululemon is facing more brand competition in the U.S., it's still a hot brand in China. As a premium brand, Lululemon may lose out when there's high inflation. That points to its status among mass consumers, who typically reach to afford the company's premium products. That's usually a good thing for the company, but since it relies on these customers to generate growth, it may feel changes in the economy more acutely that brands that are ultra-luxury and don't reach a mass consumer base. ## Keep your eye on the ball Lululemon has developed a huge and growing global business and remains a popular brand. That gives it some edge over newcomers, and it's working to protect that by sticking to its successful formula: creating innovative, stylish products that bring value to its users. There have been many knockoffs of Lululemon's best-selling and genre-redefining men's dress pant, for example, but people who pay for Lululemon's quality and patented fabrics get it. "Key to our success within all our markets is our product," McDonald said, "which offers unique and innovative solutions for guests across both athletic and lifestyle product categories." He mentioned several new lines for women, including Daydrift, Shake It Out, and Be Calm, and said that customers "responded well to the newness." Despite that effort, Lululemon stock is trading at its cheapest-ever [forward, one-year P/E ratio](https://www.fool.com/terms/f/forward-pe/). It trades at only 13 times forward, one-year earnings, near an all-time low, and likely lower than when Burry took a position. [![LULU PE Ratio (Forward 1y) Chart](https://media.ycharts.com/charts/5bc07eacf62c8df9d95f2de2e6ef1674.png)](https://ycharts.com/companies/LULU/chart/) [LULU PE Ratio (Forward 1y)](https://ycharts.com/companies/LULU/forward_pe_ratio_1y) data by [YCharts](https://ycharts.com/) He also bought [call options](https://www.fool.com/investing/how-to-invest/stocks/call-options-vs-put-options/), which are a straight-out signal that he thinks the stock price will rise. At this price, and with the company's continued opportunity, that's likely to happen soon enough. Lululemon reports second-quarter earnings this week, and there's a chance the stock will already begin to climb on the update. ## Read Next Mar 23, 2026 •By [Catie Hogan](https://www.fool.com/author/20674/) [Lululemon's Corporate Struggles Continue, but Is a Turnaround on the Horizon?](https://www.fool.com/investing/2026/03/23/lululemons-corporate-struggles-continue-but-is-a/) Mar 22, 2026 •By [Adam Levy](https://www.fool.com/author/2330/) [1 Incredible Value Stock Down 68% to Buy Now Before It Rebounds](https://www.fool.com/investing/2026/03/22/1-incredible-value-stock-down-68-to-buy-now-before/) Mar 22, 2026 •By [Rachel Warren](https://www.fool.com/author/20250/) [Best Apparel Stocks to Buy in 2026 and How to Invest in Them](https://www.fool.com/investing/stock-market/market-sectors/consumer-discretionary/apparel-stocks/) Mar 21, 2026 •By [Geoffrey Seiler](https://www.fool.com/author/20615/) [Can Lululemon Stock Recover?](https://www.fool.com/investing/2026/03/21/can-lululemon-stock-recover/) Mar 19, 2026 •By [Parkev Tatevosian, CFA](https://www.fool.com/author/20206/) [Should Investors Buy Lululemon Stock?](https://www.fool.com/investing/2026/03/19/should-investors-buy-lululemon-stock/) Mar 19, 2026 •By [Jeremy Bowman](https://www.fool.com/author/1957/) [Down 68%, This Growth Stock Looks Oversold. Is It a Buy?](https://www.fool.com/investing/2026/03/19/down-68-this-growth-stock-looks-oversold-is-it-a-b/) ### About the Author ![Jennifer Saibil](https://g.foolcdn.com/avatar/2046366227/large.ashx?_w=3840) Jennifer Saibil has been a contributing Motley Fool stock market analyst covering the consumer goods and financial sectors since 2019. She previously worked in the financial sector and has written for other finance publications. She holds a bachelor’s degree in finance from Yeshiva University and a master’s degree in public administration from New York University’s Wagner School of Public Service. [TMFanibird](https://www.fool.com/author/20154/) [Jennifer Saibil](https://www.fool.com/author/20154/) has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Lululemon Athletica Inc. The Motley Fool has a [disclosure policy](https://www.fool.com/legal/fool-disclosure-policy/). ### Stocks Mentioned [LU Lululemon Athletica Inc. NASDAQ: LULU\$145.83 (-0.02%)-\$0.03](https://www.fool.com/quote/nasdaq/lulu/) \*Average returns of all recommendations since inception. Cost basis and return based on previous market day close. ## Premium Investing Services Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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Readable Markdown	Michael Burry, who runs Scion Asset Management, gained fame after his incredible play on the mortgage crisis was chronicled in the Michael Lewis book (and subsequent movie) The Big Short. At the time, he was just getting started. Today, he manages a portfolio worth nearly \$600 million. Unlike many [hedge funds](https://www.fool.com/investing/how-to-invest/hedge-fund/), his fund owns very few stocks, and he makes options a central component of his strategy. That makes sense for someone who rose to prominence through a contrarian [short scheme](https://www.fool.com/terms/s/shorting-a-stock-meaning/). As of the end of the second quarter, Scion owns only six stocks, plus an assortment of call options. One of Burry's new positions is struggling activewear giant Lululemon Athletica ([LULU](https://www.fool.com/quote/nasdaq/lulu/) 0\.02%). Let's find out what this contrarian player might see in Lululemon and whether it's a good play for the average investor. ![A person in a yoga position.](https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F831541%2Fmature-woman-meditating-calm-2121x1414-ab440fd.jpg&w=3840&op=resize) Image source: Getty Images. ## No longer the new name in activewear Lululemon helped popularize the athleisure trend that made gym clothes an everyday staple and became part of the reason several officewear brands went under. It was thriving before the pandemic, but remote work was a strong tailwind when offices closed down. More recently, however, Lululemon has been struggling, or at least decelerating. There are a number of reasons it's had a falling out with the market, including missing the seasonal colors that are vital to resonating with its consumer base, being subject to tariffs as a foreign company (it's based in Canada), not having enough inventory of its most popular items, and growing competition in the premium activewear market. In some ways, it's been a victim of its own success, since its affluent customers want the most premium experience, and there are always new players who can enter and vie for that position. Also, as return-to-work orders abound, investors are concerned that these trends will only deepen. That's quite a load of issues, and Lululemon stock has tumbled 60% off of its all-time highs. LULU Today's Change (-0.02%) \$-0.03 Current Price \$145.82 ## Not just yoga pants It's not that bad. Here's how Lululemon performed in the 2025 fiscal first quarter (ended May 4): - Revenue increased 7% year over year. - Comparable sales were up 1%. - [Gross profit](https://www.fool.com/terms/g/gross-profit/) was up 8%, and gross margin was up 60 basis points. - [Operating income](https://www.fool.com/terms/n/net-operating-income/) was up 1%, but operating margin was down 110 basis points. - Earnings per share (EPS) increased from \$2.54 last year to \$2.60 this year. Lululemon had a strong quarter internationally, where sales increased 19% over last year. CEO Calvin McDonald noted that U.S. customers are being more intentional about their buying behavior, considering the pressure in the economy. The business performed particularly well in China, where sales increased 22% over last year, and where it's expecting sales to grow 25% to 30% this year. It's expecting to open 40 to 45 new stores for the year, most of which will be in China. This is a huge market opportunity and demonstrates that even if Lululemon is facing more brand competition in the U.S., it's still a hot brand in China. As a premium brand, Lululemon may lose out when there's high inflation. That points to its status among mass consumers, who typically reach to afford the company's premium products. That's usually a good thing for the company, but since it relies on these customers to generate growth, it may feel changes in the economy more acutely that brands that are ultra-luxury and don't reach a mass consumer base. ## Keep your eye on the ball Lululemon has developed a huge and growing global business and remains a popular brand. That gives it some edge over newcomers, and it's working to protect that by sticking to its successful formula: creating innovative, stylish products that bring value to its users. There have been many knockoffs of Lululemon's best-selling and genre-redefining men's dress pant, for example, but people who pay for Lululemon's quality and patented fabrics get it. "Key to our success within all our markets is our product," McDonald said, "which offers unique and innovative solutions for guests across both athletic and lifestyle product categories." He mentioned several new lines for women, including Daydrift, Shake It Out, and Be Calm, and said that customers "responded well to the newness." Despite that effort, Lululemon stock is trading at its cheapest-ever [forward, one-year P/E ratio](https://www.fool.com/terms/f/forward-pe/). It trades at only 13 times forward, one-year earnings, near an all-time low, and likely lower than when Burry took a position. [![LULU PE Ratio (Forward 1y) Chart](https://media.ycharts.com/charts/5bc07eacf62c8df9d95f2de2e6ef1674.png)](https://ycharts.com/companies/LULU/chart/) [LULU PE Ratio (Forward 1y)](https://ycharts.com/companies/LULU/forward_pe_ratio_1y) data by [YCharts](https://ycharts.com/) He also bought [call options](https://www.fool.com/investing/how-to-invest/stocks/call-options-vs-put-options/), which are a straight-out signal that he thinks the stock price will rise. At this price, and with the company's continued opportunity, that's likely to happen soon enough. Lululemon reports second-quarter earnings this week, and there's a chance the stock will already begin to climb on the update.
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