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Story summary
- Lululemon appointed former Nike executive Heidi O’Neill as chief executive.
- Comparable North American sales fell 12% in the latest quarter.
- Leggings sales, which generate about one-third of revenue, dropped 20%.
- Market share slipped 10 percentage points to 43% as Alo and Vuori gained ground.
- Shares trade near $99, about 80% below the 2023 peak.