Franklin Street Advisors Exits $22.8 Million Lululemon Stake As Apparel Stock Slides

On Thursday, Franklin Street Advisors disclosed that it sold out its entire position in Lululemon Athletica during the third quarter in an estimated $22.8 million transaction.What HappenedFranklin Street Advisors reported in a Securities and Exchange Commission filing released on Thursday that it exited its entire stake in Lululemon Athletica (LULU -0.64%) during the third quarter. The fund sold all 95,891 shares, resulting in an estimated transaction value of $22.8 million for the period ended September 30 ...