Cramer: Be careful with Lululemon

Cramer: Hold off on LULU
Cramer: Hold off on LULU   

Investors should remain skeptical about buying Lululemon Athletica's stock despite its most recent earnings beat, CNBC's Jim Cramer said Tuesday.

"Let's be careful," Cramer said on "Squawk on the Street." "Its same-store sales number was not that good. It's a Canadian company, so there's a translation."

The yoga apparel retailer reported a 6 percent rise in comparable-store sales on a constant-dollar basis.

Read MoreLululemon raises full-year profit, revenue forecast

The company also reported fiscal first-quarter earnings per share of 34 cents, slightly higher than analysts' estimates. Revenue came in at $423.5 million, beating projections.

Lululemon shares were up 5.6 percent in early trading Tuesday.

Disclosure: Cramer's trust did not own Lululemon stock when this article was published.