Lululemon CEO to step down, stock slides
TORONTO, June 10 (Reuters) - Premium yogawear chain Lululemon Athletica Inc said on Monday that chief executive Christine Day is stepping down once the company finds a replacement, and it reported better-than-expected profit.
The Vancouver-based Canadian retailer said net income rose to $47.3 million, or 32 cents a share in the first quarter ended May 5. This compares with $46.6 million, or 32 cents, a year earlier.
Lululemon shares fell 7 percent in after-market trade.