February 14, 2018 / 2:29 PM / 6 months ago

BUZZ-Lululemon: Dips on block sale by existing holder

** Lululemon dipping ~1 pct in light volume premarket as existing holder sells

** Sources say RBC re-offered 1.2 mln shares at $76.25, a 1.3 pct discount to stock’s Tues close; seller not disclosed

** RBC communicated sale was result of reverse inquiry from buyside and was well oversubscribed, source says

** Seller agreed to 30-day lockup on selling any additional shares

** LULU shares are flat since Canadian athleisure apparel maker announced abrupt resignation of CEO Laurent Potdevin with co saying he had fallen short of its “standards of conduct”

** Lululemon’s stock up 15.3 pct over past year

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