According to the 10Q << Our accounting do not include all of the information and footnotes required by GAAP for complete financial statements>>
So LULU is reporting not according to GAAP and has P/S of 14?
I sent a letter to SEC and asked about this non GAAP accounting of LULU. ______________________________________
Basis of presentation
The unaudited interim consolidated financial statements as of July 31, 2011 and for the twenty-six weeks ended July 31, 2011 and August 1, 2010 are presented using the United States dollar and have been prepared by the Company under the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, the financial information is presented in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and, accordingly, do not include all of the information and footnotes required by GAAP for complete financial statements. The financial information as of January 30, 2011 is derived from the Company’s audited consolidated financial statements and notes for the fiscal year ended January 30, 2011, included in Item 8 in the fiscal 2010 Annual Report on Form 10-K filed with the SEC on March 17, 2011. These unaudited interim consolidated financial statements reflect all adjustments which are in the opinion of management necessary to a fair statement of the results for the interim periods presented. These unaudited interim consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and related notes included in the Company’s 2010 Annual Report on Form 10-K.
LULU is an accounting scam company that is actively manipulated by hedge funds.
I sent last week a very detailed letter ( 3 pages) to SEC about manipulation of LULU shares by a specific hedge fund. I indicated the name of the hedge fund and a name of WS analyst who is working with the hedge funds . I hope to receive a response from SEC stating that my claim is been reviewed.
If you think LULU shares are victim of manipulation by the MM , please take 2 minutes to file official complaint with SEC at www.sec.gov
Why small investors should be manipulated by the wall street sharks? Where is the justice here?