Lululemon Facing Downward as Troubles Mount on Day Exit

When Lululemon Athletica Inc. announced yesterday that Chief Executive Officer Christine Day was leaving the company, investors bolted.

Day, 51, had been a Wall Street darling. Sales have tripled in the past three years and the shares had risen more than fivefold since June 27, 2008, the day before she became CEO of the Canadian yogawear juggernaut. And while her reputation took a hit earlier this year when the Vancouver-based company was forced to recall pants that became transparent when wearers bent over, her announced departure caught many analysts by surprise.