Besides Chip Wilson's comment on Bloomberg interview was very accurate except he should have said it using the right words not to offend any one. If a person who wears size 10 buys size 6 pants, ofcourse it is going to rip no matter how good the quality of the pants.
And that's the reason why the stores are still packed. Walked by one of the stores on Friday at lunch, the store was very busy, both Lululemon and Michael Kors. Short interest is sky high at 24% of the float. Even if they report in-line earnings and in-line guidance, the stock will pop big. I am hoping for more downgrades ahead of earnings so I can buy cheap.