L Brands Surges on First-Quarter Guidance, Debt Repayment Plan
L Brands Surges on First-Quarter Guidance, Debt Repayment Plan L Brands boosts its first-quarter guidance and plans to reinstate its dividend. Author: L Brands ( LB) - Get Report shares were higher Friday after the parent of Victoria's Secret, Pink and Bath & Body Works raised its first-quarter guidance and unveiled steps to repay debt, buy back shares and reinstate its annual dividend. Shares of the Columbus, Ohio, company at last check were 6.1% higher at $59.26. L Brands said in a statement that the board had authorized repayment of $1.04 billion of debt by calling $285 million of bonds...
Source: thestreet.com