LIMITED BRANDS’ NEW OFFICE: Limited Brands said on Friday it will lease 320,051 square feet of office space at 1740 Broadway, which will also include offices for Victoria’s Secret. As part of the lease, the new office space will include refurbishment of the building entrance and lobby and a proprietary generator. Limited will also benefit from building signage, future expansion rights and an exclusive lobby and loading bay.
RALPH’S BONUS: Ralph Lauren, chief executive officer of Polo Ralph Lauren, received a $15 million bonus for the year ended March 31, 2006, a 13 percent increase from last year’s $13.3 million bonus, according to the company’s proxy filing on Friday with the Securities and Exchange Commission. Lauren’s base salary of $1 million remained unchanged from a year ago. The ceo also received restricted stock valued at $4.3 million, or a 30.2 percent increase from the $3.3 million of restricted stock granted a year ago. In addition, there was no change in the 150,000 stock options he received this year from last year.
This story first appeared in the July 10, 2006 issue of WWD. Subscribe Today.