With Lululemon's stock down more than 17 percent in the past month, Jim Cramer questioned if the athleisure movement has peaked.
But Lululemon's CEO Laurent Potdevin told Cramer that the brand is about more than just clothing. Thus, he claimed the stock cannot be measured by traditional metrics of a spreadsheet. It is really a combination of the evolution of athleticism and mindfulness, he said.
"It's so much more than apparel … when you think about Lululemon and its history, it's an investment in people," Potdevin said. "Giving them their best life, personal development and creating incredible product that allows them to live their life."
Three weeks ago the yoga-inspired apparel company reported a quarter that Wall Street regarded as suboptimal. Lululemon delivered in-line earnings and 4 percent same-store sales growth, but analysts expected a 5.8 percent increase. And while management raised guidance, it did not raise forecasts as much as analysts had hoped. Lululemon's stock has still risen 25 percent this year.
"This was an OK quarter, but when you are dealing with a high-flying growth stock, anything less than a flat out beat is considered a major disappointment," Cramer, the "Mad Money" host, said.