Lululemon turnaround more uncertain with Burgoyne exit, says Needham

Needham analyst Tom Nikic believes Lululemon’s (LULU) turnaround will be more difficult with the departure of Celeste Burgoyne, the company’s President of the Americas. This is Lululemon’s second high-profile executive departure in the last 18 months, following the exit of Chief Product Officer Sun Choe in 2024, the analyst tells investors in a research note. Needam says Choe and Burgoyne were key architects to the company’s ascendance, making the loss of both “during a period of turbulence” for the brand in North America “not ideal.” Burgoyne’s departure “adds an additional layer of uncertainty” to Lululemon’s North American turnaround, the firm contends. It has a Hold rating on the shares.