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4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Lululemon Athletica inc.    LULU

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Lululemon Athletica Inc : Lululemon chairman sold stock before CEO's surprise departure

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06/13/2013 | 04:24am CET

Yogawear maker Lululemon Athletica Inc's Chairman Dennis "Chip" Wilson sold stock worth $50 million days before shares slumped on the news of Chief Executive Christine Day's surprise departure.

Wilson, who founded the company in 1998 and remains its largest voting shareholder, set up the sales plan in December, the Wall Street Journal reported citing InsiderScore.com, which tracks insider trading and institutional ownership.

Wilson sold 607,545 shares at $81.50 each on Friday, earning $49.5 million, according to a regulatory filing. (http://link.reuters.com/zux78t)

The SEC allows company executives to trade their own stock by using a preset plan known as 10b5-1, even when they have access to private information.

Lululemon shares slumped as much as 15 percent in extended trading on Monday after Day announced her departure plans. The shares dropped about 17 percent on Tuesday amid price target cuts and downgrades by Wall Street analysts.

The maker of high-end, fashionable workout wear had to recall its excessively see-through yoga pants in March, which proved a huge blow.

(Reporting by Garima Goel in Bangalore; Editing by Stephen Coates)

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Financials ($)
Sales 2017 2 338 M
EBIT 2017 424 M
Net income 2017 301 M
Finance 2017 662 M
Yield 2017 -
P/E ratio 2017 28,05
P/E ratio 2018 24,26
EV / Sales 2017 3,40x
EV / Sales 2018 2,96x
Capitalization 8 611 M
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Consensus 
Mean consensus OUTPERFORM
Number of Analysts 35
Average target price 73,8 $
Spread / Average Target 17%
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Managers
NameTitle
Laurent Potdevin Chief Executive Officer & Director
Michael Casey Co-Chairman
David Marks Mussafer Co-Chairman
Stuart C. Haselden Chief Financial Officer
Allan Smith Chief Information Officer
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