- Leadership Change: CEO Calvin McDonald is stepping down, effective Jan. 31, after more than a year of stock underperformance and pressure from founder Chip Wilson.
- Interim Leadership: CFO Meghan Frank and Chief Commercial Officer André Maestrini will serve as interim co-CEOs.
- Market Reaction: Shares jumped over 9% in pre-market trading, signaling investor approval of the leadership change.
- Q3 Financial Results (Beat Expectations):
- EPS: $2.59 (vs. $2.25 expected)
- Revenue: $2.57 billion (vs. $2.48 billion expected)
- Q4 Guidance (Fell Short): The company projects Q4 sales ($3.50B – $3.59B) and EPS ($4.66 – $4.76) below analyst estimates.
- Business Trend: International sales surged 33%, but the crucial Americas market saw a 2% revenue decrease and a 5% drop in comparable sales.
Lululemon Stock Surges Following CEO Departure and Mixed Earnings Report
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