L Brands Slashes Dividend, Picks Chief for Victoria's Secret Underwear


L Brands Inc., which seeks to revolutionize business in its flagship Victoria Secret Chain, said on Monday that it halves its annual dividend and hires a Tory Burch leader to lead the sub-division.

The negotiator, who is on track to report his third consecutive annual decline in profits, said it plans to cut its annual payment to $ 1.20 per share, starting with March payment. The move will save around $ 325 million in cash.

The …

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