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Lululemon Athletica Inc. (LULU) Sank Sharply After CEO Announced Exit

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Lululemon Athletica Inc. (LULU) reported first quarter EPS of $0.32 after the bell Monday, which was flat with the prior year result. The consensus estimate was for EPS of $0.30. The company expects to report second quarter EPS of $0.33 to $0.35 and full year 2013 EPS of $1.96 to $2.01. The consensus estimates are for EPS of $0.33 and $1.99.

The company also announced that Christine Day will step down as the Company's Chief Executive Officer when a successor is named.

Lululemon Athletica gapped open dramatically lower Tuesday and declined further during the first half of the morning. Shares finished down by 14.43 at $67.85 on the highest volume of the year. The stock dropped to nearly a 2-month low and fell below its 50 and 200-day moving averages.

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