L Brands stock is down almost 40% since the beginning of this year to the current price of around $11 per share, as the spread of the novel Coronavirus rattles the stock markets and the broader economy. L Brands has underperformed the S&P thus far through the crisis, as the company’s sales…
L Brands (NYSE: LB) stock is down almost 40% since the beginning of this year to the current price of around $11 per share, as the spread of the novel Coronavirus rattles the stock markets and the broader economy. L Brands has underperformed the S&P thus far through the crisis, as the company’s sales have taken a hit due to the closures of stores since the month of March. The company’s first-quarter has been wiped out due to the outbreak of coronavirus, which has forced people to stay indoors, resulting in a steep decline in the demand for the company’s products. To make matters worse, Sycamore Partners has decided to terminate the agreement to buy a 55% interest in Victoria’s Secret.
