1601 ET - Lululemon Athletica's shake-up of its product leadership team comes after a long string of challenges for the athletic brand. The company is creating two new c-suite executives, including a head of product, while its head of brand activation and chief supply chain officer are departing. The company's stock has shed nearly 60% this year, as product launches have continually failed to resonate with shoppers. In the latest quarter, sales of Lululemon's core clothing categories in the Americas were slower than expected, while its Chinese business took an unexpected downturn. Analysts said the results created long-term concerns and a lack of visibility that could deter even the most loyal investors.
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