Shares slid 6.4 percent to $ 32.33 in pre-trading on Wall Street on Tuesday. "It seems that management does not expect a turnaround in the near future, which most investors probably hoped for," analyst Jen Redding of the brokerage house "Webb" said. First of all, reducing the annual dividend by half to $ 1.20 was painful.
L. Brands wants to use the money saved for repayment of debts. In addition, the company sets up a new head of the Victoria's Secret division's troubled division. John Mehsas, who worked for the fashion house "Gap" and the Maisys department store, replaced top manager Jan Singer, who retired several days ago at the start of 2019.