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Stock impact report

Elliott Takes $1 Billion Stake in Lululemon, Swaying CEO Search [Yahoo! Finance]

lululemon athletica inc. (LULU) 
Last lululemon athletica inc. earnings: 3/26 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.lululemon.com
Company Research Source: Yahoo! Finance
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 would step down from the top job in January following a tough year for the business, and you can be sure that Elliott is planning to take an active role in hiring his replacement. SUBSCRIBE: Receive more of our free The Daily Upside newsletter. READ ALSO: Upbeat FedEx Forecast Makes Holiday Sales Prospects Jollier and Cannabusiness Prospects Light Up as White House Reclassifies Marijuana While the company's annual revenue has tripled to about $11 billion since McDonald took the top job in 2018, growth is starting to stall, especially at home. In its third-quarter earnings call last week, Lululemon reported a 5% dip in comparable sale Show less Read more
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