LULU 的单一品牌属性导致销售周期波动，无法实现长期复利增长；说话者已将其从投资组合中剔除。
逐段跳播
而Lululemon在这个节目上对我来说是一次真正的教训。这家公司有些人会知道，我大约一年前推荐过它，当时相当兴奋，但整个投资逻辑朝着不利于我的方向发展，我觉得除了把它从我们的内在价值组合中剔除之外别无选择。
And Lululemon has been a real learning lesson for me on this show. It's a company that some will know I I pitched about a year ago and was quite excited about, but the entire thesis moved against me and I felt there was no other choice than to just drop it from our intrinsic value portfolio.
平心而论，Daniel和Kyle都曾提醒过我，他们对Lulu以及整体上投资零售业心存犹豫，但我还是执意推进了。
And and to be fair, both Daniel and Kyle had warned me about their hesitations around Lulu and investing in retail in general and I pushed ahead anyways.
所以，Lulu当然是在做与Walmart非常不同的事情，它是一家高端运动服饰品牌。但最重要的区别在于，Lululemon是一个单一品牌。它们不是品牌的集合平台，而单一品牌的产品人气和酷劲不可避免地会随时间波动，从而造成销售周期非常不稳定，长期来看也没有能力成为真正的复利增长型公司。
And so Lulu though is trying to do something very different from Walmart, of course, as a premium athletic wear brand. But the most important difference is that Lululemon is a single brand.
They're not a marketplace of brands and single brands will inevitably have the popularity and and coolness of their products fluctuate over time making for a very volatile sales cycle and no real ability to be a true compounder in the long term.
这个频道对 $LULU 的历次判断
The Intrinsic Value Podcast 在这只股票上共 2 条判断，这里只列相邻的几条。