NASDAQ:LULU   lululemon athletica inc
LULU will miss earnings meaningfully this week. Were the last quarter's tax rate not lowered, presumably by the CFO hoping to keep the stock elevated at 50+ times earnings , to 19% from the 36% of the past two+ years, earnings in the most recent quarter would have been $.17/ shr vs. $.27/ shr (for those of u not familiar with arithmetic) rather than $.39 (I forget, it might have been $.37). This is one of the most obvious shorts I have ever seen. In addition, the company chose, in the interest of not injuring earnings in the income statement, to Capitalize Expenses and put $17 mil of Prepaid Expenses on the balance sheet , and only flowed <$3 mil in operating expenses through the income statement. Sales per store have been declining in each of the last three quarters, as well. Geez-"Sounds like a great long to me?............"

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