Limited Brands to restructure
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Apparel retailer Limited Brands Inc. is doubling the size of its stock buyback program to $1 billion and cutting 10% of its corporate jobs as it restructures and sheds some of its famous chain stores.
The Columbus, Ohio-based owner of Victoria’s Secret and Bath & Body Works also said it was still exploring alternatives for its Limited Stores business and considering options regarding other core assets.
Limited is trying to shed underperforming apparel brands to focus on what it says most of its customers want: sexy underwear and bath and beauty products.
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