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Lululemon shares drop 12% after naming Nike veteran Heidi O’Neill as new CEO amid turnaround doubts

Market News
23 Apr 2026
New York Post
View Source
Bearish
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Lululemon's shares fell up to 12% after appointing Heidi O’Neill, a former Nike executive, as CEO starting September 8. Investors and analysts expressed disappointment, believing the company needs a turnaround specialist rather than a growth-focused leader. Lululemon has faced declining sales, product failures, and market share loss to competitors, leading to pressure from activist investors. O’Neill aims to leverage the brand's strong customer loyalty and innovation to revive growth, but skepticism remains about her ability to address the company’s deep challenges.

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