Victoria's Secret: Sex Isn’t Selling



Posted by Ed 6 mths ago
L Brands Inc., trying to revamp business at its flagship Victoria’s Secret chain, on Monday said it is halving its annual dividend and hiring a Tory Burch executive to lead the lingerie division.

The retailer, which is on track to report its third consecutive annual profit decline, said it plans to cut its annual payout to $1.20 a share, starting with the March payout. The move will save about $325 million in cash.

L Brands ( LB ) is scheduled to release its third-quarter numbers before the market open November 19 with the consensus calling for earnings of $0.15 per share. During the same period last year the company earned $0.30 and the stock has lost 40.7% during the year.

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