Victorias

L Brands to Host Virtual Investor Meetings for Bath & Body Works and Victoria’s Secret & Co. on July 19th

Retrieved on: 
Friday, July 16, 2021
Victoria's Secret, Fashion, Clothing, L Brands, Retailers, Bath & Body Works, Pink, Victorias, Service companies

COLUMBUS, Ohio, July 16, 2021 (GLOBE NEWSWIRE) -- L Brands, Inc. (L Brands) (NYSE: LB) announced that it will host virtual investor meetings for Bath & Body Works and Victorias Secret & Co. on Monday, July 19, 2021, in advance of the planned August 2021 separation via a tax-free spin-off of the Victorias Secret business.

Key Points: 
  • COLUMBUS, Ohio, July 16, 2021 (GLOBE NEWSWIRE) -- L Brands, Inc. (L Brands) (NYSE: LB) announced that it will host virtual investor meetings for Bath & Body Works and Victorias Secret & Co. on Monday, July 19, 2021, in advance of the planned August 2021 separation via a tax-free spin-off of the Victorias Secret business.
  • Andrew Meslow, CEO of L Brands and Bath & Body Works, and Martin Waters, CEO of Victorias Secret & Co., will be joined by members of their senior leadership teams to provide an update on each companys strategic initiatives, growth plans and drivers of value creation.
  • The Bath & Body Works investor meeting will begin at 8:30 a.m. Eastern, and the Victorias Secret & Co. meeting will begin at 12:30 p.m. Eastern.
  • L Brands, through Bath & Body Works, Victorias Secret and PINK, is an international company.

L Brands, Inc. Board Approves Separation of Victoria’s Secret & Co. and Corporate Name Change to Bath & Body Works, Inc.

Retrieved on: 
Friday, July 9, 2021
Victoria's Secret, Fashion, Clothing, Victorias, L Brands, Pink, Companies, Victorias Milling

The new company, named Victorias Secret & Co. (Victorias Secret), will include Victorias Secret Lingerie, PINK and Victorias Secret Beauty.

Key Points: 
  • The new company, named Victorias Secret & Co. (Victorias Secret), will include Victorias Secret Lingerie, PINK and Victorias Secret Beauty.
  • In addition, the Board approved a name change from L Brands, Inc. to Bath & Body Works, Inc. (the Name Change).
  • The separation will be achieved through the distribution of 100percent of the shares of Victorias Secret to holders of L Brands common stock.
  • Following the distribution of Victorias Secrets common stock on August 2, 2021, Victorias Secret will be an independent, publicly traded company.

L Brands to Host Virtual Investor Meetings for Bath & Body Works and Victoria's Secret & Co. on July 19th

Retrieved on: 
Thursday, July 1, 2021
Victoria's Secret, Fashion, Clothing, L Brands, Bath & Body Works, Pink, Retailers, Victorias, Service companies

COLUMBUS, Ohio, July 01, 2021 (GLOBE NEWSWIRE) -- L Brands, Inc. (L Brands) (NYSE: LB) announced that it will host virtual investor meetings for Bath & Body Works and Victorias Secret & Co. on Monday, July 19, 2021, in advance of the planned August 2021 separation via a tax-free spin-off of the Victorias Secret business.

Key Points: 
  • COLUMBUS, Ohio, July 01, 2021 (GLOBE NEWSWIRE) -- L Brands, Inc. (L Brands) (NYSE: LB) announced that it will host virtual investor meetings for Bath & Body Works and Victorias Secret & Co. on Monday, July 19, 2021, in advance of the planned August 2021 separation via a tax-free spin-off of the Victorias Secret business.
  • The Bath & Body Works investor meeting will begin at 8:30 a.m. Eastern, and the Victorias Secret & Co. meeting will begin at 12:30 p.m. Eastern.
  • L Brands, through Bath & Body Works, Victorias Secret and PINK, is an international company.
  • Words such as estimate, project, plan, believe, expect, anticipate, intend, planned, potential and any similar expressions may identify forward-looking statements.

L Brands Announces Proposed $500 Million Offering of Senior Notes Due 2029 by Its Spin-Off Subsidiary, Victoria’s Secret & Co.

Retrieved on: 
Tuesday, June 29, 2021
Victoria's Secret, Fashion, Clothing, Victorias, L Brands, Bath & Body Works, Pink, Retailers, Service companies

COLUMBUS, Ohio, June 29, 2021 (GLOBE NEWSWIRE) -- L Brands, Inc. (L Brands) (NYSE: LB) announced today that its subsidiary, Victorias Secret & Co. (Victorias Secret), is offering to sell $500 million aggregate principal amount of senior notes due 2029 (the Notes) in a private placement offering to eligible purchasers, subject to market and other conditions.

Key Points: 
  • COLUMBUS, Ohio, June 29, 2021 (GLOBE NEWSWIRE) -- L Brands, Inc. (L Brands) (NYSE: LB) announced today that its subsidiary, Victorias Secret & Co. (Victorias Secret), is offering to sell $500 million aggregate principal amount of senior notes due 2029 (the Notes) in a private placement offering to eligible purchasers, subject to market and other conditions.
  • Victorias Secret is a recently formed company, which L Brands intends to separate from its current business by means of a spin-off to its shareholders (the Separation).
  • Pending completion of the Separation, proceeds from the offering of the Notes will be deposited into escrow for the benefit of the holders of the Notes.
  • L Brands, through its Bath & Body Works, Victorias Secret and PINK brands, is an international company.

L Brands Announces Board of Directors for Standalone Victoria's Secret

Retrieved on: 
Wednesday, June 16, 2021
Victorias, Pepperidge Farm, L Brands, Food and drink, Food industry, Food products

The new Victorias Secret Board is expected to consist of seven directors, six of whom are independent and six of whom are women (including the Chair of the Board).

Key Points: 
  • The new Victorias Secret Board is expected to consist of seven directors, six of whom are independent and six of whom are women (including the Chair of the Board).
  • Including two directors currently serving on the L Brands Board (who will step down from the L Brands Board in connection with the separation), the following are the anticipated members of the Victorias Secret Board following the completion of the separation:
    Irene Chang Britt, Former President, Pepperidge Farm and Senior Vice President, Global Baking and Snacking, Campbell Soup Company
    Today marks an exciting milestone in our plans to launch Victorias Secret as an independent, publicly traded company, said Sarah E. Nash, chair of L Brands Board.
  • We are thrilled with the group of diverse and seasoned executives who will comprise the new Victorias Secret Board.
  • Ms. Chang Britt brings brand and marketing expertise as well as public company board experience to the Victorias Secret Board.

L Brands Increases First Quarter Earnings Guidance

Retrieved on: 
Friday, March 26, 2021
Victoria's Secret, Fashion, Companies, Clothing, Financial markets, Corporate finance, Bath & Body Works, Economy, Forecasting, L Brands, Victorias, Pink

COLUMBUS, Ohio, March 26, 2021 (GLOBE NEWSWIRE) -- L Brands, Inc. (NYSE: LB) today is increasing its first quarter earnings guidance due to improved sales trends which the company believes are primarily driven by unusual shifts in consumer spending patterns, resulting from government stimulus payments, a relaxation of COVID-19 restrictions and other factors.

Key Points: 
  • COLUMBUS, Ohio, March 26, 2021 (GLOBE NEWSWIRE) -- L Brands, Inc. (NYSE: LB) today is increasing its first quarter earnings guidance due to improved sales trends which the company believes are primarily driven by unusual shifts in consumer spending patterns, resulting from government stimulus payments, a relaxation of COVID-19 restrictions and other factors.
  • The company is now forecasting a first quarter earnings per share range of $0.85 to $1.00 versus its previous range of $0.55 to $0.65, excluding any charges related to the early extinguishment of debt.
  • The previously mentioned factors have led to a stronger first quarter forecast at both Bath & Body Works and Victorias Secret.
  • L Brands, through Bath & Body Works, Victorias Secret and PINK, is an international company.

L Brands Announces Actions to Drive Further Shareholder Value

Retrieved on: 
Friday, March 12, 2021
Victoria's Secret, Fashion, Clothing, Brands, Balance sheet, L Brands, Bath & Body Works, Pink, Victorias, Nash Motors

COLUMBUS, Ohio, March 12, 2021 (GLOBE NEWSWIRE) -- L Brands, Inc. (NYSE: LB) today announced actions it is taking to further enhance shareholder value.

Key Points: 
  • COLUMBUS, Ohio, March 12, 2021 (GLOBE NEWSWIRE) -- L Brands, Inc. (NYSE: LB) today announced actions it is taking to further enhance shareholder value.
  • Sarah Nash, Board Chair, stated, L Brands took a series of actions throughout 2020 to improve financial and operational performance, which led to record third and fourth quarter results, increased liquidity, and a year-end cash balance of $3.9 billion.
  • Andrew Meslow, Chief Executive Officer of L Brands, commented We are pleased with our quarter-to-date performance at both Bath & Body Works and Victorias Secret.
  • L Brands, through Bath & Body Works, Victorias Secret and PINK, is an international company.

L Brands to Present at the J.P. Morgan Global High Yield & Leveraged Finance Conference

Retrieved on: 
Monday, March 1, 2021
Victoria's Secret, L Brands, New York Stock Exchange, Leveraged buyout, Pink, Victorias, Forward-looking statement, Clothing, Finance, Service companies

COLUMBUS, Ohio, March 01, 2021 (GLOBE NEWSWIRE) -- L Brands, Inc. (NYSE:LB) is scheduled to participate in the J.P. Morgan Global High Yield & Leveraged Finance Conference on March 2, 2021.

Key Points: 
  • COLUMBUS, Ohio, March 01, 2021 (GLOBE NEWSWIRE) -- L Brands, Inc. (NYSE:LB) is scheduled to participate in the J.P. Morgan Global High Yield & Leveraged Finance Conference on March 2, 2021.
  • Stuart Burgdoerfer, executive vice president and chief financial officer, will be making a presentation at approximately 8:30 a.m.
  • L Brands, through Bath & Body Works, Victorias Secret and PINK, is an international company.
  • Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements.

L Brands Announces Leadership Changes at Victoria’s Secret

Retrieved on: 
Wednesday, November 25, 2020
Victoria's Secret, Clothing, L Brands, Pink, Retailers, Victorias, Bath & Body Works, Brands

COLUMBUS, Ohio, Nov. 25, 2020 (GLOBE NEWSWIRE) -- L Brands, Inc. (NYSE: LB) announced several key leadership appointments at Victorias Secret.

Key Points: 
  • COLUMBUS, Ohio, Nov. 25, 2020 (GLOBE NEWSWIRE) -- L Brands, Inc. (NYSE: LB) announced several key leadership appointments at Victorias Secret.
  • Waters will report to Stuart Burgdoerfer, Interim CEO of Victorias Secret and CFO of L Brands.
  • Previously, Behringer served in a number of field leadership roles, from Store Manager to Regional Manager, across Victorias Secret.
  • L Brands, through Bath & Body Works, Victorias Secret and PINK, is an international company.

L Brands Announces Partnership with Next PLC for Victoria’s Secret UK

Retrieved on: 
Monday, September 14, 2020
Victoria's Secret, Victorias, Clothing

COLUMBUS, Ohio, Sept. 14, 2020 (GLOBE NEWSWIRE) -- L Brands, Inc. (NYSE: LB) today announced a partnership with Next PLC (LON: NXT) for its company-owned Victorias Secret business in the United Kingdom and Ireland (Victorias Secret U.K.).

Key Points: 
  • COLUMBUS, Ohio, Sept. 14, 2020 (GLOBE NEWSWIRE) -- L Brands, Inc. (NYSE: LB) today announced a partnership with Next PLC (LON: NXT) for its company-owned Victorias Secret business in the United Kingdom and Ireland (Victorias Secret U.K.).
  • Under the agreement, which is subject to regulatory clearance, Victorias Secret U.K. and Next PLC have formed a joint venture (JV), where the JV will acquire the majority of the assets of the Victorias Secret U.K. business that is currently in Administration.
  • The newly formed JV will operate all Victorias Secret stores in the U.K. and Ireland, subject to agreeing to terms with landlords.
  • Martin Waters, CEO of L Brands International, commented We are pleased to take this next step in our profit improvement plan for Victorias Secret.