Limited Says Victoria's Secret Stores Chief to Retire

Limited Brands Inc., the owner of Bath & Body Works and Express, said the head of its biggest source of revenue, Victoria's Secret Stores, will retire.

Grace Nichols, 60, will step down as chief executive officer of the division, the Columbus, Ohio-based company said in a statement today. Lori Greeley, executive vice president in charge of intimates, will replace her, Limited said. Victoria's Secret Stores accounted for about 35 percent of Limited's sales, said Mark Montagna, an analyst at CL King & Associates.