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Fly News Breaks for October 10, 2019
LB
Oct 10, 2019 | 15:04 EDT
Jefferies analyst Randal Konik called news of the reported departure of Victoria Secret's EVP of Stores and Store Operations "another signal that the company's turnaround strategy is failing to gain traction." Given the elevated promotions he has highlighted in prior notes to investors, Konik said he doesn't find it "overly surprising" that key executives may be looking to leave. The analyst, who thinks the Victoria Secret segment will begin to lose money by the second half of 2020, reiterates his Underperform rating on shares of parent L Brands.
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