TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer was fond of Lululemon Athletica's (LULU - Get Report) first quarter report, released on Wednesday before the opening bell. 'The numbers were really solid,' Cramer said. He urged investors to read research reports from JPMorgan retail analyst Matthew Boss, who had been expecting solid results from Lululemon. Shares of the athletic clothing company slid on Wednesday, after it issued soft second quarter sales guidance of $505 million to $515 million, while analysts had expected $514 million. Lululemon shares have added 32 percent since the start of the year.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.