Lululemon Trades Higher on Reports of Going Private

TheStreet 1:11 mins

Lululemon was trading higher Thursday on news the company is reportedly in discussions to go private. The yogawear maker has recently been suffering from executive shakeups, falling share prices and a diminishing fan base. Founder Chip Wilson is reportedly talking with private equity firms, including Leonard Green Partners, the Wall Street Journal reported Thursday. Wilson, as director, has been vocal in his opposition of the company's board, particularly the strategic direction he believes flouts the principles on which the company was founded. The stock gained on the news, partially erasing the the year's drop in share price.

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