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Lululemon chief executive steps down

Chief executive of sportswear label Lululemon, Christine Day, is leaving the company after five years.

Day said it was “the right time” to bring in a new chief executive to “drive the next phase of Lululemon’s development and growth.”

She will stay on at the company until a replacement is positioned to ensure a “smooth transition.”

Day joined the brand in 2008 as executive vice president of retail operations after 20 years at Starbucks Corp, where she led the coffee chain’s Asia operations. She has since been credited with pushing Lululemon’s international expansion.

When Day took charge, Lululemon had 87 stores worldwide. Following store openings in Asia and Eurpoe the brand now has 218 outlets.

Lululemon has also reported a 7% rise in sales for the quarter ending 31 March 2013 while net revenue for the period increased 21% to $345.8m (£220m) year on year.

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