Hedgeye Retail Sector Head Brian McGough is scratching his head over a recent hire at Lululemon.
- Lululemon Athletic on Tuesday named Tara Poseley chief product officer."
- "Poseley, who most recently was president of the multichannel, multicategory Kmart apparel business, will be responsible for merchandising, inventory, allocation and strategic planning. In her new role, Poseley will oversee Lululemon’s global design strategy, working with the senior vice presidents of women’s and men’s design...In her 25-year career, Poseley has run men’s, women’s, accessories, kid’s and intimate apparel businesses as an executive at Bebe Stores, Disney Stores North America and Design Within Reach."
Takeaway: This definitely strikes us as odd. LULU has the luxury of hiring only the best people -- but the former head of K-Mart's apparel business??? That's a head-scratcher. Disney and DWR definitely lend a lot of credibility. I know it sounds like we're nit-picking here…but perhaps that's because we were hoping that the next executive announcement would be for a new CEO. After all, Christina Day (who we happen to be a fan of) was, in effect, pushed out back in June, but still sits at the helm nearly 5-months later. Very odd.
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