CNBC television is reporting that Limited Brands has made three headlines:
- Limited Brands has reached an agreement with private equity firm Golden Gate Capital to sell a 67% stake in the Express brand for $548m
- They are still exploring “strategic options” for Limited Stores
- They have slashed their Q1 earnings forecast in half from $0.25 – 0.28/share to $0.12 – 0.14/share.
LTD Stock has reopened after being halted at $27.14 at 2:27 and has immediately dropped to around $26.
More from CNBC and a just issued press release by Limited Brands.
[...] Lawlor wrote an interesting post today onHere’s a quick excerptLimited Brands has reached an agreement with private equity firm Golden Gate Capital to sell a 67% stake in the Express brand for $548m. – They are still exploring “strategic options” for Limited Stores … [...]