May 24, 2024

John Zolidis, founder of consumer-focused investment adviser Quo Vadis Capital, also removed his long recommendation on Lululemon shares this week. He noted that Choe’s departure follows concerning commentary from the company on its March earnings call, where it blamed both squeezed shoppers and the wrong product assortment for a softer start to its fiscal year. 

“It’s very troubling,” he said. “It sounds like something is very wrong with the merchandising or the execution.”