
Having recently said goodbye to founder and former CEO Leslie Wexner, the Columbus, Ohio-based owner of Victoria’s Secret and Bath & Body Works reported a 37.1% decline in revenues for the first quarter on Wednesday.
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Having recently said goodbye to founder and former CEO Leslie Wexner, the Columbus, Ohio-based owner of Victoria’s Secret and Bath & Body Works reported a 37.1% decline in revenues for the first quarter on Wednesday.
The founder of the Ohio-based retailer officially stepped down from his role as CEO and chairman at the company’s annual meeting on Thursday, where discussions also focused on future plans for Victoria’s Secret.
L Brands said on Monday it has agreed to call off the sale of its majority stake in Victoria’s Secret lingerie business to Sycamore, averting a bitter legal battle between the two companies over the $525 million deal.
L Brands announced on Thursday that it has amended its revolving credit facility, among other measures, to ensure liquidity in light of the ongoing coronavirus pandemic.
Sycamore Partners disclosed it has walked away from a $525 million deal to acquire a majority stake in Victoria’s Secret, after the lingerie brand shut down stores and furloughed staff in response to the coronavirus
L Brands announced on Friday that it is extending temporary store closures at its store banners and taking steps to secure its finances, as a future with Covid-19 remains uncertain.
With North American retailers implementing store closures to combat the spread of Covid-19 since the weekend, Tuesday’s announcements have come from the likes of Macy's, Ralph Lauren, AEO, Foot Locker and Tapestry.
Columbus, Ohio-based apparel group L Brands Inc. announced on Thursday the appointment of Sarah Nash as chair of the board of directors.
As the Columbus, Ohio-based retailer prepares to sell a controlling stake in its Victoria’s Secret brand to Sycamore Partners, the company has reported a net loss of $192.3 million for the fourth quarter.
L Brands is selling a controlling stake in its Victoria’s Secret unit to investment firm Sycamore Partners, valuing the lingerie brand at $1.1 billion, as focuses on its core Bath & Body Works brand.