Lululemon Shares at Bottom of S&P 500 as Sales Concerns Grow
- Shares extended rout this week on product chief’s departure
- Wall Street is focused on sales trends in June earnings report
Lululemon will report fiscal first-quarter results after the market closes on June 5.
Photographer: Patrick Bolger/BloombergThis article is for subscribers only.
A bleak start to the year for Lululemon Athletica Inc. worsened this week after the departure of a key executive exacerbated Wall Street’s concerns around the outlook for the activewear company just ahead of its earnings report.
Shares slumped 9.5% this week, driven by the news that Chief Product Officer Sun Choe is leaving the company and its merchandising and branding teams will be reorganized. The stock has now declined 41% this year and is the worst performer in the S&P 500 Index so far in 2024.