Lululemon (NASDAQ:LULU) is experiencing some growing pains. The company reported first-quarter results on Thursday that beat analyst expectations on both revenue and earnings. But, after reporting negative same-store sales and cutting full-year guidance, Lululemon's stock ended the day down more than 15%.  At today's lower price, are shares a screaming bargain, or are investors in for even more pain going forward?

Rule Breakers analyst Simon Erickson gives a full recap of the good and bad news from the quarter, but also points out one important thing that the company should be focusing on to get into better shape for the future.