Core Insights - The company is undergoing significant leadership changes, with CEO Calvin McDonald stepping down amid concerns about its performance and direction [5][12][17] - Founder Chip Wilson has been critical of the company's management and performance, indicating a lack of confidence in the current leadership [2][6] - Despite impressive revenue growth during McDonald's tenure, recent results show a decline in comparable sales in North America, highlighting challenges in the domestic market [4][14] Leadership Changes - Calvin McDonald will resign as CEO and director effective January 31, with a severance payment of $3.1 million [10][5] - Marti Morfitt will serve as executive chair, and two interim co-CEOs have been appointed to lead the company during the transition [9] - The board is actively searching for a permanent CEO to guide the company forward [9] Financial Performance - Lululemon reported a 7% increase in net revenues to $2.6 billion for the third quarter, but comparable sales in the Americas fell by 5% [4][15] - The company's operating income decreased by 11% to $435.9 million, with operating margins dropping by 350 basis points to 17% [14][15] - For the full year, revenues are expected to reach approximately $11 billion, reflecting a growth rate of 5-6% [16] Market Position - Lululemon's market capitalization peaked at $64 billion but has since lost $42 billion, indicating a significant decline in investor confidence [12] - The company's stock rose by 10.4% following the announcement of leadership changes, suggesting that investors are optimistic about the potential for a turnaround [12] - The brand faces increased competition in the athleisure market, with peers expanding their offerings while Lululemon's growth in North America has slowed [14][13]

Julia Beattie, President & CEO(541) 608-8920, julia.beattie@peoplesbank.bank PBCO Reports Chief Operating Officer Retirement Share MEDFORD, Ore.--(BUSINESS WIRE)--PBCO Financial Corporation (OTCPK: "PBCO†), the holding company (Company) of People's Bank of Commerce (Bank), today reported that Steve Erb, Chief Operating Officer of the Company and Bank will retire March 16, 2026. Erb joined the bank in January 2014, serving as Chief Banking Officer, Chief Strategy Officer, and most recently as Chief Operati ...