Canadian athletic retailer Lululemon Athletica (LULU) has announced the appointment of a new head for its North American operations as it seeks to turn around its struggling business.
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Vancouver-based Lululemon has appointed Carla Anderson as its new senior vice president and general manager of its North American stores that sell activewear, yoga pants, and sneakers. This is the latest in a series of leadership changes made by the company.
Lululemon recently announced that André Maestrini will take on the role of president and chief commercial officer, where he will oversee all regions, stores and digital sales channels. Carla Anderson, who has been with Lululemon for 20 years, will report directly to Maestrini.
Lululemon’s Efforts to Attract Consumers
Anderson’s role heading up North America is effective immediately and builds upon her previous position leading Lululemon’s retail sales channels. She also spent two years as general manager of the U.S. and began her career as a Lululemon store associate.
The management shake-up at Lululemon comes as the company struggles with slowing sales and a sinking stock price. The retailer faces stiff competition in the sports and activewear market where it has struggled to revamp its product line. The company has also been hit hard by U.S. import tariffs as it manufactures most of its products in Asia.
Lululemon recently opened a new store in New York City’s SoHo neighborhood that showcases its future approach to store design, which the company says centers on “movement, connection and sensory engagement.” LULU stock has declined 52% this year.
Is LULU Stock a Buy?
The stock of Lululemon Athletica has a consensus Hold rating among 25 Wall Street analysts. That rating is based on two Buy, 22 Hold, and one Sell recommendations issued in the last three months. The average LULU price target of $193.95 implies 6.21% upside from current levels.
