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Lululemon faces competition from brands like Alo and criticism for a lack of new styles, failing leggings line, and stock decline. The company is preparing for a leadership shakeup after CEO Calvin McDonald announced his departure. Experts agree that Lululemon can turn things around by learning from its past mistakes and maintaining its current customer base while targeting a new one. The new CEO will need to refine and innovate the brand to regain its position in the market.

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