- L Brands, the owner of Victoria’s Secret, announced it will close Henri Bendel in January 2019.
- The closure is a small piece of a much bigger problem at L Brands, Jefferies says.
- L Brands should take further actions, such as cutting its dividend, closing more stores, and reducing capital expense, the analysts said.
- L Brands shares are up more than 4% on the news.
- Watch L Brands trade in real-time here.
L Brands, the owner of Victoria’s Secret, announced Friday it is shutting down Henri Bendel in January to “increase shareholder value.” The company estimates that Henri Bendel will have $85 million revenues and a $45 million operating loss in 2018.
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