Following Barrington Capital’s suggestion on Tuesday that L Brands separate its Victoria's Secret and Bath & Body Works brands, the retailer has issued a statement detailing its efforts to improve its performance.
The Victoria’s Secret parent company reported dips in Q4 and full-year 2018 earnings on Wednesday and announced a disappointing outlook for 2019, leading shares in the company to tumble more than 8% in extended trading.
L Brands, owner of Victoria's Secret, has announced that it will sell a 100% stake in lingerie brand La Senza to an affiliate of private equity firm Regent LP. The transaction is expected to be completed in January.
The Victoria's Secret Fashion Show has hit a record low in TV ratings, with this year's show garnering an audience of 3.27 million, compared to last year's total of 5.37 million; the spectacle's then-rock bottom.