Victoria's Secret Owner Drops After Pink Chain's CEO Steps Down
- Shares drop in late trading after release of quarterly results
- Analyst says discounts at Pink stores indicate sales slowdown
Shoppers carry L Brands Inc. Pink bags while walking through the Magnificent Mile commercial district in Chicago, Illinois, U.S.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
L Brands Inc., the owner of Victoria’s Secret, fell in late trading after the lingerie retailer cut its profit forecast and reported the head of its Pink brand will retire.
Denise Landman, chief executive officer of Pink will retire at the end of this year, the company said in a statement Wednesday. Amy Hauk, head of merchandising and product development at Bath & Body Works, will replace her. The shares fell as much as 5.8 percent to $30.60 in late trading.