After more than 7 years, Calvin McDonald is stepping down as CEO of Lululemon on January 31. Meghan Frank and Andre Maestrini will serve as interim co-CEOs while the board searches for a replacement. McDonald announced his exit on the same call where he delivered a quarter that beat expectations. Revenue up 7%. EPS of $2.59 versus guidance of $2.18 to $2.23. China up 46%. On paper, this looks like a victory lap. But the Americas, still 68% of revenue, declined 2%. The U.S. specifically was down 3%, with comparable sales down 5%. Management's timeline keeps slipping. We're now hearing the impac...
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