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U.S. May retail sales rose more than expected
Washington, D.C. -- A report released Thursday by the Commerce Dept. said that retail sales in the U.S. gained 0.6% in May, more than forecast and likely boosted by increased hiring during the month.
The increase was the largest in three months and followed a 0.1% advance in April. Bloomberg economists called for a 0.4% increase. The figures used to calculate economic growth, which exclude categories such as automobiles, climbed 0.3%.
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Report: Lululemon chair sold stock prior to CEO exit
Lululemon's chairman, Dennis "Chip" Wilson, sold stock worth $50 million just days before shares slumped following CEO Christine Day's resignation, according to a Reuters report.
Reuters goes on to cite a Wall Street Journal report — which in turn cites InsiderScore.com, a site which tracks insider trading and institutional ownership — that Wilson set up plans to sell stock back in December. Wilson founded the company in 1998 and remains its largest voting shareholder.