One of the advantages of writing for a public audience is that readers and other investors who follow the companies and industries we’ve written about, start to send their own information. We recently posted a short thesis on L Brands on SumZero and followed-up with a LinkedIn article discussing the risk in the company dividend. … Read more
Last week, we published a piece on SumZero recommending a short position in L Brands (LB), the company that owns Victoria’s Secret and Bath & Body Works. The key point is that there is a fashion trend away from the complicated underwire bras sold by Victoria’s Secret for $50 – $60, and towards more casual … Read more
L Brands (LB) Overview: L Brands (ticker LB) is the owner and operator of Victoria’s Secret and Bath & Body Works. Other businesses account for less than 5% of revenue and no operating profit so will not be addressed here. Victoria’s Secret is now about 60% of the $13B US lingerie industry. Bath & Body … Read more
