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Lululemon Athletica shares up 3pc to $59.40 after appointment of new chief financial officer

Lululemon Athletica shares up 3pc to $59.40 after appointment of new chief financial officer

NEW YORK: Lululemon Athletica (LULU) shares are up 3 per cent to $59.40 on heavy volume in trading after the athletic apparel retailer named Stuart Haseldon as its new CFO last night after the closing bell.

Investors are reacting positively that the company is progressing past the management troubles it experienced early last year though the stock did outperform the S&P 500 Index by 36.5 per cent over the last three months of 2014.

Further the stock is trading on heavy volume today with 3.9 million shares changing hands, ahead of its three month daily average of 2.7 million shares.