In 2023, The New York Times declared “soft pants” were “The Postpandemic Benefit That’s Here to Stay,” citing Lululemon’s $148 fleece-lined pleated trousers. Two years on, the soft-pants standout has lost some of its flex, and it’s time for a workout that it would just as soon skip. According to a report in The Wall Street Journal on Thursday, Elliott Investment Management has built a$1 billion stake in the athleisure company. The reveal comes just a week after Lululemon CEO Calvin McDonald announced he ...