Lululemon shares dive on new CEO

The appointment of Heidi O'Neill has failed to reassure Wall Street as Lululemon faces a significant slowdown in sales growth.

Retail analysts have questioned the decision to tap a 'growth CEO' from Nike, a company currently undergoing its own massive restructuring and layoffs.

Lululemon's stock plunge wiped out billions in market value in a single day of trading, reflecting deep skepticism about the brand's future direction.

The company is now under pressure to prove that O'Neill can navigate a more competitive athleisure market and address mounting inventory challenges.