Lululemon Stock Is a Buy After CEO Exit
Lululemon is getting new leadership next year.Apparel retailer Lululemon (LULU +9.60%) has been struggling, and the story remained unchanged in the third quarter. While total revenue rose by 7% year-over-year and comparable sales increased by 1%, the international segment did most of the heavy lifting. In the Americas, comparable sales plunged 5%, leading to a 2% revenue decline. Earnings per share dropped by 10% as costs rose faster than revenue.Along with the quarterly report, Lululemon announced that CEO ...