Lululemon Shares Advance After Founder Reaches Truce, Future Still in Question
Lululemon Athletica shares traded higher Wednesday after the company and founder Chip Wilson settled their proxy battle, ending the board dispute a few months ahead of a leadership change as a new CEO steps in. Lululemon shares traded 3.4% higher at $131.62. The SPDR S&P Retail ETF was up 1.3%. The SPDR S&P 500 ETF eased 0.1%. Nike added 2.1%. On Holding slipped 0.7%. On’s former co-CEO is involved in the Lululemon board agreement.