Lululemon reported Q4 North America net revenue down 4% and its first full-year U.S. revenue decline, while naming former Levi’s CEO Chip Bergh to its board as interim co-CEO Meghan Frank said the company’s CEO search was ongoing and it was meeting with “highly qualified candidates.” Founder Chip Wilson, who has been publicly pressuring the company over its leadership and creative direction, called Bergh’s appointment “underwhelming” while acknowledging the simultaneous retirement of long-time director David Mussafer as “a step in the right direction.” Lululemon is projecting net revenue growth of 2% to 4% in 2026 and says it is already seeing improvement in full-price selling, with plans to reduce SKUs, cut markdowns, and rebalance inventory in North America.
