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Lululemon Athletica Inc. lowered its full-year outlook for a second straight quarter, reflecting the deepening challenges incoming Chief Executive Officer Heidi O’Neill will face when she takes over the top job next week. The weak results and slashed guidance suggest that O’Neill’s task will be a difficult one as she looks to pull the company back from an extended slowdown and missteps that sparked a management reset. A former Nike Inc. executive, O’Neill is scheduled to take the reins on Tuesday, more than four months after being named to the role.

The results are “bad all around” said Bloomberg Intelligence senior analyst Poonam Goyal, who doesn’t see the company’s performance improving anytime soon. “Even with Heidi joining next week, the issue is product innovation — and that fix doesn’t happen overnight,” Goyal said. Guest hosts Christina Ruffini and Lisa Mateo speak with Goyal for more. 

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.
Lululemon Athletica Inc. lowered its full-year outlook for a second straight quarter, reflecting the deepening challenges incoming Chief Executive Officer Heidi O&rsquo;Neill will face when she takes over the top job next week. The weak results and slashed guidance suggest that O&rsquo;Neill&rsquo;s task will be a difficult one as she looks to pull the company back from an extended slowdown and missteps that sparked a management reset. A former Nike Inc. executive, O&rsquo;Neill is scheduled to take the reins on Tuesday, more than four months after being named to the role.
The results are &ldquo;bad all around&rdquo; said Bloomberg Intelligence senior analyst Poonam Goyal, who doesn&rsquo;t see the company&rsquo;s performance improving anytime soon. &ldquo;Even with Heidi joining next week, the issue is product innovation &mdash; and that fix doesn&rsquo;t happen overnight,&rdquo; Goyal said. Guest hosts Christina Ruffini and Lisa Mateo speak with Goyal for more.&nbsp;

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Listen for reporting from the magazine that helps global leaders stay ahead. Hosts Carol Massar and Tim Stenovec cover the changing world of money, power and technology.&nbsp;You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET:&nbsp;<a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.&nbsp;

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Bloomberg Businessweek

Lululemon Drops to Eight-Year Low With New CEO Inheriting a Mess

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