Lululemon’s turnaround gets tougher as new CEO inherits a battered brand; shares fall 20%

Lululemon shares dropped significantly after the company lowered its full-year sales forecast. The sportswear maker's signature leggings business saw a notable sales decline. Competitors like Alo and Vuori are gaining market share in athleisure. New CEO Heidi O'Neill faces challenges in regaining customer relevance and sales growth. The company has financial flexibility for a potential operational realignment and cost adjustments.