Lululemon: Deep Dive Analysis
Lululemon’s Q2 revenue fell 4% and Americas comparable sales 12%, as markdowns, tariffs and activewear rivals pressure its premium apparel model.
Tuesday, September 8, 2026
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Trevor Scott on X
wasting money at $COST .ca is so fun https://t.co/38Effra3Xt
Trevor Scott on X
$MCD traded at 15x PE in 2012, when just 81% of stores were franchised. Today 95% are franchised, the balance sheet is twice as levered and they have already raised prices far faster than competitors. Is this a table pounding idea at 19x NTM pe? https://t.co/whFq0xVa5y
PAA Research on X
@TopCornerInvest Thanks. It wasn't based on the quarter. There's more to go here. $MUSA $CASY
Trevor Scott on X
$FICO could have just kept quiet and slowly raised prices. Instead they jacked it up 17x over 5 years and lost their 30 year monopoly. 'Anyone that has a monopoly will pretend that they're in incredible competition.' - Peter Thiel https://t.co/fCCphiaSox
DOMO Capital Management, LLC on X
$GME 👀 https://t.co/o0cx17NM88
Trevor Scott on X
@ValueInvestShow fashion cyclicality has destroyed many value investors! revenue is quickly decelerating and ebit margins are double a decade ago! not a single insider purchase in this 63% drawdown $DECK
A Capital on X
$FSLR initiated at $260 (9/8/26) https://t.co/kyadOqiPsJ
Investor Letters
All letters- Pendelhaven Asset Management B.V. Q3 2026 SKHY $990B
- Akre Capital Management, LLC Q3 2026 AMT $82BMA $487B
- Bristlemoon Capital Q3 2026 SNDK $236B
- Fred Alger Management, LLC Q3 2026 AMZN $2.8TGOOGL $4.3T
- Janus Henderson Investors July 2026 KLAC $243BMCK $104B
- Asset Value Investors Ltd July 2026 UNVGY $27B
- Forager Funds Management July 2026 SGE $12B
- PenderFund Capital Management Ltd. July 2026 GNRC $12B
lululemon: An 18% Crash Is Not A Buy Signal
Lululemon’s Americas revenue fell 8% and comps dropped 12%, while a $134.5 million tariff refund masked weakening underlying margins after…
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Simple Investment Ideas 
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Crane Co.
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Meta Platforms (META) 2Q25: SuperMetalligence
Meta’s 22% Q2 revenue growth and AI-driven ad engagement support its core business, while planned 2026 capex of roughly $100 billion…
Trying to get access to Google's new agentic AI
Google’s A$205-a-month AI Ultra subscription advertised Project Mariner access, but Australians were excluded from the agentic AI trial.
API Group: A reasonable path to $50+ per share
API Group targets $10.4 billion of 2028 revenue and 16% EBITDA margins as recurring compliance inspections expand, supporting a $50-plus…
[$VEEV] Veeva Systems
Veeva serves 1,500 life-sciences customers with cloud software and targets AI-driven industry efficiency gains as new commercial and R&D…
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