New CEO Soon For Lululemon Athletica inc (NASDAQ:LULU)

Posted by Lynn Eisler October 17, 2013 0 Comment 2930 views

Lululemon Athletica inc (NASDAQ:LULU) has been in the news for the recall of its see-through yoga pants as well as for the unexpected and sudden resignation of Christine Day, the company’s Chief Executive officer. She is still managing the company while the hunt for a replacement is on. For the past one year, the company’s stock has literally plateaued after several years of being on a roll.

The company’s 2nd quarter call was critical for the market as well as for investors. As projected, analysts shot questions about how the recall would impact the company. There were questions about the Chief Executive Officer search as well as the very competitive landscape that exists in the market right now.

A good run

Christine Day updated the analysts about the hunt for a new CEO. Search consultants have been brought in by the board and some serious candidates are being interviewed. This issue should be sorted over the next couple of quarters, said Day. She said that the company is in the 2nd year of its 3-year strategic plan and that a new entrant on the scene will not be shaking-up matters so soon. Under the aegis of Day, the company’s stock had got a distinct boosts and the culture that Lululemon Athletica inc (NASDAQ:LULU) exuded led to staunch brand loyalty.

Wednesday’s trading

In Wednesday’s trading, Lululemon Athletica inc (NASDAQ:LULU) dropped by 0.82%. The opening price of the shares was $74.96, which climbed to an intraday high of $75.99 and dipped to a close of $74.05. Approximately 3.34 million shares were traded on Wednesday while an average volume of 3.52 million shares were traded over a 30 day period. The 52-week low of Lululemon Athletica inc (NASDAQ:LULU) shares is $59.60 and its 52-week high is $82.50. The company has a market capitalization of $12.96 billion

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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