Shares of Lululemon (LULU) are falling in pre-market trading hours as the company announced the departure of its Chief Product Officer Sun Choe, with a restructuring of the team to put Nikki Neuburger in as the Chief Brand & Product Activation Officer with Chief Merchandising Officer Elizabeth Binder reporting to Neuberger. Morning Brief Anchors Brad Smith and Seana Smith break down the latest development for Lululemon and what it could mean for the luxury retail brand moving forward. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino
Lululemon Athletica stock sank Wednesday after the athletic wear company said its chief product officer is leaving and announced a reshuffle of its management ranks. The company said Tuesday its chief product officer, Sun Choe, will be departing the company later this month to pursue another opportunity. Lululemon said it doesn’t intend to replace the role.
(Updated - May 22, 2024 11:58 AM EDT)