This financial research report offers a detailed overview of Lululemon Athletica, covering its business model as a premium athletic apparel retailer with significant e-commerce and retail store presence. The analysis highlights recent quarterly earnings, noting mixed results due to a slight sales miss despite an EPS beat, and addresses short-term and long-term risks such as U.S. market softness, tariff pressures, and competition. The document further examines Lululemon's cost structure, emphasizing product costs and store operations, and provides insights into its management, governance, and shareholder structure, including capital return strategies like share buybacks. Finally, it conducts a Buffett-style checklist analysis and a Discounted Cash Flow (DCF) valuation, suggesting that Lululemon may be undervalued at its current market price based on various growth scenarios.

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