La Senza: On the Chopping Block at L BrandsThe Victoria’s Secret parent, long adept at trimming back, is exploring options for the $250 million lingerie business.

[Collection]Leslie Wexner isn’t done with fashion Darwinism just yet. And Wall Street is applauding the L Brands Inc. chief executive officer’s willingness to keep cutting. The company said it was “pursuing all alternatives” for La Senza, which it estimates is on track for operating losses of $40 million this year on sales of $250 million. That effectively puts the lingerie brand on the block just as the firm’s much larger Victoria’s Secret business struggles to find its footing. L Brands spent $600 million to buy La Senza in 2007. Together with last month’s decision to shutter Henri Bendel, the company is checking out of businesses that are on pace to drive $85 million in operating losses this year. Investors, who have been waiting much longer than promised for a turnaround at Victoria’s Secret, approved and sent shares of L Brands up 5.9 percent to $30.20 in what was overall a bad day for the markets. “As part of an ongoing effort to drive shareholder value and in order to focus on its larger core businesses, the company announced that it is pursuing all alternatives for its La Senza business,” L Brands said. “La Senza currently has 126 company-owned and operated stores in North America and 188

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