Overview
- McDonald will exit Jan. 31, 2026 and remain a senior adviser through March 31, with SEC filings noting a $3.05 million separation payment plus additional severance and a bonus.
- CFO Meghan Frank and CCO André Maestrini will serve as interim co-CEOs, and chair Marti Morfitt becomes executive chair as a leading search firm is engaged to find a permanent CEO.
- Third-quarter revenue rose 7% to $2.57 billion, with Americas revenue down 2% and international up 33% as comparable sales in the Americas fell 5%.
- Lululemon raised its profit outlook and expanded its share repurchase program by $1 billion, and the stock climbed roughly 10% in extended trading.
- Founder Chip Wilson remains publicly critical and, according to reports, has explored a potential proxy fight.