Lululemon, the maker of yoga clothing, announced that its top product executive is out after last month's see-through yoga pants fiasco.
Vancouver-based Lululemon Athletica (said Wednesday that Sheree Waterson, its chief product officer, will step down on April 15 after five years at the company. )
Waterson's exit comes quickly on the heels of the company's large recall of Lululemon's popular black yoga pants last month.
The pants were recalled because they were unintentionally see-through. The defective product represented 17% of all women's yoga pants sold in Lululemon stores, and prompted a shortage of the pants.
Last month, the retailer warned that the recall would significantly hurt its financial results. The company, expected to report first-quarter results in June, said same-store sales are projected to increase 5% to 8% in the period, down from its earlier forecast for a gain of 11%.