Lululemon shares slide as co names former Nike executive as next chief

Lululemon Athletica

23/04/2026 10:47

** Shares of athleisure brand Lululemon LULU.O down 4% at $156.95 in premarket trading

** Lululemon named former Nike executive Heidi O'Neill as its next CEO

** Heidi, who is set to replace Calvin McDonald, has served as the president of consumer products and brands at Nike

** The appointment comes amid the retailer's struggles to regain market share and the departure of its former CEO earlier this year

** "While O'Neill brings credible product and brand experience from her 30+ year tenure at Nike, her September start date means that strategic and operational influence will be limited near term," Keybanc said

** 3 of 33 brokerages rate the stock "buy" or higher, 29 "hold" and 1 "sell" or lower; their median PT is $175 - data compiled by LSEG

** As of last close, LULU down 21.4% YTD

 (Reporting by Kanchana Chakravarty in Bengaluru)

 ((Kanchana.Chakravarty@thomsonreuters.com;))