Parent company L Brands raises quarterly earnings guidance twice in one month as a result.
Wexner and wife Abigail will not be up for re-election to the Victoria’s Secret’s parent company board this spring.
The swim “magalogue” will also return March 1, as the company continues to evaluate its recovery options.
Shareholder complaints say Wexner knew about abuse at the hands of disgraced sex offender Jeffrey Epstein — and that it cost the company money.
Meanwhile, the retailer continues with its plans to spinoff the lingerie brand into a private, stand-alone firm.
Alan Dershowitz says Wexner’s testimony supports his argument that Jeffrey Epstein accuser Virginia Giuffre is trying to extort money.
Wexner’s testimony is wanted in the fight between Jeffrey Epstein accuser Virginia Giuffre and Harvard law professor Alan Dershowitz. But the L Brands founder wants to stay out of it.
L Brands’ stock surged more than 35 percent after the retailer laid out plans to save the company roughly $400 million annually.
The retailer expects to close about 250 stores in North America this year.
The private equity firm agreed to buy the lingerie retailer before the coronavirus pandemic hit.
The coronavirus has already begun causing casualties in the retail world. L Brands’ sale of the lingerie business might be next.
Sarah E. Nash will begin once the sale of the lingerie company is complete.
Bluebell Group is more confident than ever about the Asian consumer as it further expands into new markets.