LB - L Brands Ditches Victoria's Secret Sale Will Spin Off Instead
L Brands (NYSE: LB) announced Tuesday it will spin off its Victoria's Secret brand into a stand-alone business.
The New York Times reports Victoria's Secret just didn't hold much allure with potential buyers who refused to pony up for the retailer, perhaps similar to how consumers feel about the lingerie brand today. As a result, L Brands will split itself into two separately traded companies: Victoria's Secret and Bath & Body Works.
Image source: Victoria's Secret.
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L Brands Ditches Victoria's Secret Sale, Will Spin Off Instead