What Has The Market Missed In Lululemon Stock's Drop?

Lululemon Athletica (LULU) continues to quietly absorb its own shares, a trend the current stock price appears to ignore. Investors generally view the athletic apparel maker as a leggings brand dealing with stalled sales. The stock lost 41.4% over the past twelve months, while the S&P 500 returned 17.9%. Yet the company steadily reduced its share count alongside that falling valuation, setting up a sharp contradiction. So how much of its own stock is Lululemon buying back.