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home / news releases / LB - Why L Brands Stock Is Surging Today

LB - Why L Brands Stock Is Surging Today

L Brands Inc.

Investors are cheering a business update from L Brands (NYSE: LB), owner of the Victoria's Secret and Bath & Body Works retail chains. The company plans to cut annual costs by $400 million going forward -- a crucial move considering it's facing a steep drop in revenue from disruptions caused by the COVID-19 pandemic.

As of 12:40 p.m. EDT, L Brands stock was up a whopping 33% for the day.

Image source: Getty Images.

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Stock Information
Company Name: L Brands Inc.
Stock Symbol: LB
Market: NYSE
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