Hints and tips:
...Meanwhile, a move to close stores and reduce discounts has helped to boost operating margins. L Brands has nothing to lose by spinning off Victoria’s Secret and locking in a higher valuation....
...The two divisions of L Brands underwent a significant restructuring over the past year, particularly Victoria’s Secret, after the pandemic forced many of their stores to shut down....
...I’m also a fan of dinner at Cumulus Inc in the CBD [Central Business District]....
...Meanwhile, debt financing dried up, shares in Blackstone, Apollo, Carlyle and KKR tumbled, pre-crisis deals for Amex’s business travel unit and Victoria’s Secret were called off, and the hit to portfolio...
...Figures this week showed third-quarter revenues dropped 23 per cent at Macy’s and 14 per cent at Victoria’s Secret....
...Sycamore had argued in its court papers that L Brands had damaged the Victoria’s Secret business by furloughing workers and cancelling shipments while stores were ordered to shut....
...’s Secret stores and began laying off workers or cutting their pay....
...Like-for-like sales at Victoria’s Secret, which operates 1,170 stores worldwide, from Stockholm to Santiago, dropped 2 per cent in the September quarter from the same period a year ago....
...The embattled Victoria’s Secret owner L Brands is recovering from a derailed deal with Sycamore Partners. Even as storefronts re-emerge from lockdown, many are unable or unwilling to pay rent....
...Macy’s, Foot Locker and Victoria’s Secret-owner L Brands were among several companies that slumped to a quarterly loss after their stores were closed — in stark contrast to Walmart, which posted its biggest...
...s Secret, Macy’s and other out-of-favour retail brands are also among its largest tenants....
...Tens of thousands of retail workers are already being furloughed without pay at Victoria’s Secret owner L Brands, while Macy’s warned its workforce of about 125,000 on Monday that it was unclear when stores...
...’s Secret to terminate a deal that would have given it a controlling stake in the retailer....
...Victoria’s Secret parent L Brands, which has about 94,000 employees, said on Friday that most of its store workers would be put on leave without pay....
...Big tenants include Signet Jewelers, Victoria’s Secret owner L Brands and Dick’s Sporting Goods, as well as JCPenney....
...While it has just 26 stores in the UK and Ireland compared with more than 1,000 Victoria’s Secret outlets in the US, it is a high street stalwart in several British cities....
...In February, it agreed to buy a majority stake in the storied but troubled lingerie merchant Victoria’s Secret from its parent, L Brands, for $525m....
...SoftBank founder predicts WeWork V for Victory Masayoshi Son admitted today he had turned a “blind eye” to governance lapses at WeWork but promised a “sharp V-shaped recovery” for the shared offices provider...
...(FT) Victoria’s Secret’s shame An investigation uncovered a culture of widespread bullying and harassment of models and employees at Victoria’s Secret....
...Its same-store sales fell 6 per cent in 2018 following an 8 per cent slide the previous year and in February the company said it was shuttering more than 50 Victoria’s Secret stores in North America this...
...Activist investor Barington Capital is pushing for a break-up at L Brands, owner of Victoria’s Secret and Bath & Body Works....
...Gap and Victoria’s Secret are among several household names to announce closure plans, while Payless ShoeSource and Charlotte Russe have each launched bankruptcy filings....
...Square footage at Victoria’s Secret in the US is expected to remain largely the same. This makes little sense. Now that the dividend has been cut, stores should be next for the chopping block....
...Victoria’s Secret sales were flat. Moreover, in stores only, Victoria’s Secret comparable sales were down 7 per cent, while Bath & Body Works sales were up 7 per cent....
...Like many retailers, Victoria’s Secret has faced fierce industry competition....
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