3 Ways L Brands' Victoria's Secret's Spin-Off Will Benefit Investors
Splitting the controversial Victoria's Secret clothing and lifestyle brand off as its own stand-alone company now has an official date and added details, according to a recent press release from parent company L Brands (NYSE: LB). Approved by L Brands' Board of Directors on July 9, the divestment will see Victoria's Secret divided off to become its own company on Aug. 2, trading publicly on the New York Stock Exchange under the ticker symbol VSCO.
L Brands, meanwhile, will change its ticker symbol to BBWI as it conforms much closer to its remaining brand's name, Bath & Body Works. There are three reasons that investors might see these changes put more money in their pockets over the medium to long term. Let's discuss them.
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Source Fool.com