Jim Cramer: Look at Lululemon as a 'Lifestyle' Company

Lululemon (LULU) - Get Report is a lifestyle company, not an apparel company and investors should view it that way, said TheStreet's Jim Cramer. Earlier this month, the Canadian-based retailer of so-called athleisure wear reported worse-than-expected fiscal second-quarter comparable sales, and investors sent the stock into downward dog position. Lululemon reported a comparable-sales gain of 5%, missing analysts' expectations of 5.9%. Earnings came in at 38 cents a share, matching estimates, on revenue of $514.5 million, below the consensus estimate of $515.5 million. The company also reported a decline in customer traffic during the quarter, and it expects the downward trend to continue.

Columnist Anders Keitz of Real Money, our subscription-based premium site for active traders, says LULU seems to have a lot of things going for it right now. Click here to read her rundown (non-subscribers can sign up for a 14-day free trial to Real Money.)