Wednesday, January 29, 2020

Wexner may step down as L Brands CEO, sell Victoria’s Secret

The Columbus Dispatch
The Dispatch has confirmed that L Brands founder Leslie H. Wexner is considering stepping down as the company’s CEO and selling off lingerie brand Victoria’s Secret.

Wexner is in talks that could result in a full or partial sale of Victoria’s Secret. The chain, with about $7 billion in annual sales, has long dominated the U.S. lingerie market but has struggled in recent years with falling sales. The Wall Street Journal first reported the possible sale online Wednesday morning, and The Dispatch confirmed the story through a source close to the company. . . . more