An investor in Victoria's Secret parent L Brands is asking the company to consider splitting fragrance and personal care shop Bath & Body Works from the lingerie chain, according to the Wall Street Journal.
In the letter, Barington Capital argues that improved merchandising and fresh branding would help the struggling Victoria's Secret brand, according to a copy of the letter seen by the Journal. The hedge fund says Victoria's Secret was late to the athleisure trend and missed the mark on consumer sentiment.
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