Companies/Industries

Company News: Lululemon, Stanley Fischer, EADS, Outerwall, ­Costco


Lululemon Athletica (LULU) is finally balancing its corporate chakras. The yoga-gear maker tapped Laurent Potdevin, former chief executive officer of snowboard equipment and apparel company Burton, to succeed Christine Day as CEO. Founder Dennis “Chip” Wilson will relinquish the chairman’s seat to lead director Michael Casey. The company is eager to move on from two recent PR kerfuffles: a recall of transparent pants and comments by Wilson implying plus-size women shouldn’t wear Lululemon.

• Stanley Fischer, former Bank of Israel governor, is President Obama’s top pick for vice chairman of the Federal Reserve, according to people familiar with the process. While a professor at Massachusetts Institute of Technology, Fischer, 70, oversaw the thesis of Fed Chairman Ben Bernanke.

• Airbus parent EADS (EAD:FP) says it will cut 5,800 jobs in its defense and space unit, roughly 4 percent of the company’s workforce. The aerospace giant also will consolidate production sites in Western Europe. The announcement follows downsizing at defense rivals including Lockheed Martin (LMT) and BAE Systems (BA/:LN).

Outerwall (OUTR), the company behind RedBox, pulled the plug on three ventures intended to bolster its flagging DVD rental business: coffee-brewing kiosks, a line of sandwich vending machines, and a brand of high-tech photo booths. The company’s Coinstar brand remains a mint.

Costco Wholesale (COST) disappointed Wall Street for the second straight quarter as rising costs pulled results below expectations in the three months ended Nov. 24. Revenue from membership fees still surged 7.4 percent.

Kyle-stock-190
Stock is an associate editor for Businessweek.com. Twitter: @kylestock

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Companies Mentioned

  • LULU
    (Lululemon Athletica Inc)
    • $38.47 USD
    • -0.98
    • -2.56%
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