L Brands Tumbles After Dividend Cut, Changes At Victoria's Secret -- Market Mover
November 20 2018 - 10:21AM
Dow Jones News
Shares of L Brands Inc. are down 15% as the market opens, a day
after the parent company of Victoria's Secret lingerie said it is
halving its annual dividend to $1.20 and appointing a new executive
to lead the Victoria's Secret chain. Finance chief Stuart
Burgdoerfer tells analysts on a conference call Tuesday morning the
company is "very clear minded about where we are" and describes
results at L Brands as "unacceptable." He says the company is
evaluating all aspects of the business, from brand positioning to
merchandise to the firm's real-estate footprint.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
November 20, 2018 10:06 ET (15:06 GMT)
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