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L Brands Targets August for Separation of Victoria’s Secret

Victoria's Secret Debuts New Fall Collection with Angel Martha Hunt in Houston

Photographer: Bob Levey/Getty Images

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L Brands Inc. intends to sell or spin off Victoria’s Secret by August as the company works to separate its beleaguered lingerie chain from the growing Bath & Body Works business. The shares climbed.

The company hasn’t determined the exact method for the split, but said Thursday that it’s reviewing “all options, including a spin-off of the Victoria’s Secret business into a public company or a private sale of the business.” The more-specific timeline comes after the board met with its financial advisers in January, L Brands said.