L Brands Inc. said this morning that its board of directors approved a $250 million share repurchase program that includes $600,000 left over from its prior stock buyback program.
Shares of the specialty retailer closed yesterday up 1.6 percent to $86.08. The 52-week high is $95.78, and the low is $56.75. Earlier this month, Fitch Ratings reaffirmed the company’s debt ratings noting that the retailer is well-positioned in the market. L Brands operates specialty stores under the Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel banners.