After Lululemon (LULU) announced that Celeste Burgoyne, President of the Americas and Global Guest Innovation, will leave the company after nearly 20 years to join Vail Resorts (MTN) and appointed Andre Maestrini as President and Chief Commercial Officer, Jefferies analyst Randal Konik said the firm sees this leadership change as a negative. North America is a mature and challenging market with recent declines in demand trends and Maestrini, based in London, lacks strong North American experience, which “raises doubts whether he’s the right pick,” according to the analyst, who reiterates an Underperform rating and $120 price target on Lululemon shares.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LULU:
- Lululemon President of Americas / Global Guest Innovation Burgoyne departing
- Lululemon turnaround more uncertain with Burgoyne exit, says Needham
- Lululemon Athletica: Hold Rating Amid Leadership Changes and Market Challenges
- Lululemon appoints Andre Maestrini as chief commercial officer
- Lululemon Athletica: Navigating Earnings Guidance Amidst Declining Sales and Increased Online Markdowns