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LB - L Brands Is Looking to Sell Victoria's Secret
L Brands Inc.
L Brands(NYSE: LB) is close to a deal to sell its Victoria's Secret brand to Sycamore Partners, according to a report from CNBC. Terms of a deal are not final yet, as negotiations are ongoing and could still fall through. But a deal could be announced as soon as next week.
A sale of Victoria's Secret (VS) would be good news for shareholders of L Brands, given the abysmal performance of the VS business lately. The shares spiked about 7% on the news in pre-market trading on Monday.