US: Limited Brands in temporary name change
Apparel group Limited Brands has been temporary renamed L Brands while the company decides on a permanent change of name.
The owner of the Victoria’s Secret lingerie retail business said the name change, announced on Friday (22 March), was part of a planned transition process under a requirement associated with its 2007 sale of Limited Stores.
It expects to announce a new permanent name for the company in the months ahead, it added.
The temporary name change was engineered via a short-form merger process of a company subsidiary with the company itself, which Limited said did not require stockholder approval.
The name change does not affect the rights of shareholders, and the company’s shares will continue to be traded on the New York Stock Exchange under the name Limited Brands until 28 March, when that will change to L Brands.
It will continue to use the NYSE ticker symbol “LTD”, it said.
Limited Brands’s flagship apparel brand Victoria’s Secret operates primarily in the US, with more than 1,000 domestic outlets. Whilst a number of stores are expected to be closed, at least 20 new stor...
Overall, value sales of underwear, nightwear and swimwear increased by 3% in current value terms in 2012, to reach US$23.6 billion, whilst volume sales increased by only 2%. A similar trend was observ...
Three new signatories and two new associate members have joined the Zero Discharge of Hazardous Chemicals (ZDHC) programme....
US retailer Limited Brands (now known as L Brands) has raised its full year earnings guidance after it recorded a 24.5% increase in second quarter profit. ...
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