LB - L Brands: Chatter Over Leslie Wexner Exit Victoria's Secret Sale Intensifies
Source: Barron's
Leslie Wexner is reportedly in talks to give up his role as chief executive officer ("CEO") at L Brands (LB) and considering options for (1) a breakup of the company or (2) a sale of Victoria's Secret. Chatter of Wexner's departure comes amid a reckoning for the retail industry. Traditional retailers are facing headwinds for sales through physical locations. In its most recent quarter, L Brands reported net sales of $2.7 billion, down 4% Y/Y. Revenue from Victoria's Secret fell 8%, while revenue from Bath & Body Works ("BBW") rose 11%. Victoria's Secret