Burry Bets on Lululemon Dip After Weak Q2 Results

Michael Burry still holds about 17% of Lululemon (LULU) and says he could add to the position if the stock sinks below $100, following a fiscal Q2 miss and reduced full-year guidance that sent LULU lower. He described the company as a “trickster” but noted he often adds to positions on declines or exits them, with his GuruFocus-linked stake highlighting the emphasis. The earnings setback is blamed on weaker China demand and rising U.S. competition, while interim co-CEO Meghan Frank says management is focusing on product development, higher marketing investment and expense control to restore growth.