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Story summary
- Lululemon named former Nike executive Heidi O’Neill as its new CEO.
- Lululemon reported a 12% drop in North American sales.
- Leggings sales fell 20%, contributing to the slowdown.
- Shares slid about 20% on Friday, reaching an eight-year low.
- Analysts say O’Neill must revamp the product mix and target younger shoppers.
