to an article in today’s WWD, Express and Limited Stores are for sale. The two potential
buyers are Schottenstein
Stores Corp. and Gordon Brothers Group. Jay Margolis, president of
Limited’s apparel group, is reported to also be interested in making a
bid (perhaps in a deal structured like a management buyout).
The 44-year-old group, which is led by chairman, chief executive
officer and founder Leslie H. Wexner, now earns the majority of its profits
and revenues from its lingerie and beauty products.
How things change. Once
accounting for more than 70%, the apparel brands now represent
less than 20% of Limited Brand revenues of $10.7 billion a year. Victoria’s Secret and Bath
& Body Works now account for the bulk of sales.
Read "Evolving Limited Brands: Group Said Nearing Sale Of Two Apparel Chains" by Vicki M. Young