Our experts issued a rare "Double Down" Buy alert on this one stock... Learn more.
The situation wasn't looking good for L Brands (NYSE: LB) earlier this year. Flagging sales at its Victoria's Secret business were taking a toll on the retailer. Sycamore Partners came to the rescue with an offer to take a majority stake in the struggling lingerie chain, but relief was short lived. The private equity firm soon dropped the deal amid the heightening coronavirus outbreak.
At this point, we could have expected a grim ending to the L Brands story. Instead, management set into action to turn things around. And so far, it seems L Brands is on the right path. As a result, shares have rebounded more than 300% from their March low. So, is now the time to buy L Brands? Let's take a closer look.
Source Fool.com