Business
Lululemon Stock Pops on CEO News
Lululemon Athletica’s stock jumped 10% Friday, leading the S&P 500, after the athletic gear maker announced a plan to search for a new chief executive. Calvin McDonald, the current CEO, will step down in January, the company said late Thursday.
Shares in the athletic gear maker had lost about half their value in 2025 before Friday’s rally, and the company’s founder has pushed for board changes.
Thursday’s announcement marked a big positive, Jefferies analysts wrote in a note. “The board’s decision to move on is overdue and, in our view, the most constructive development for shareholders in years,” they said. Jefferies upgraded the stock to hold.
Continue Reading
