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 COLUMBUS, Ohio (AP) - Limited Brands Inc. will sell a majority interest in its underperforming Express apparel brand and is considering options for its Limited Stores chain, the retailer said on Tuesday as it warned of first-quarter earnings likely to disappoint Wall Street.
Limited Brands, the operator of Victoria's Secret and Bath & Body Works, said it is selling 67 percent of its interest in Express to affiliates of private equity firm Golden Gate Capital for $548 million. The sale is expected to be completed by July.
There is no time frame for what Limited Brands will do with Limited Stores, which company founder Les Wexner used as the starting point for the specialty retailer when he opened his first store in 1963.
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