Core Viewpoint - Lululemon is entering a new phase following a positive Q3 earnings report and the announcement of CEO Calvin McDonald's departure, which may signal a shift in leadership strategy [1][3]. Financial Performance - Lululemon reported Q3 revenue of $2.57 billion, reflecting a 7% year-over-year increase from $2.4 billion [4]. - The company exceeded Wall Street's revenue expectations of $2.48 billion and reported earnings per share of $2.59, surpassing the expected $2.25, although this was lower than the previous year's $2.87 [5]. - Lululemon's share buyback included one million common stock shares for a total of $189 million, and the board approved a $1 billion increase to its share repurchase program, with approximately $1.6 billion remaining available [5][6]. Leadership Changes - CEO Calvin McDonald will leave his position on January 31 after seven years, with Meghan Frank and André Maestrini appointed as interim co-CEOs during the search for a permanent replacement [1][3]. - McDonald expressed confidence in the company's future, citing a strong product pipeline and action plan aimed at delivering shareholder value [4]. Market Reaction - Following the earnings report, Lululemon's shares rose over 9% in premarket trading, although the stock is down nearly 50% year-to-date [6].