Shares of L Brands surged on the news that Victoria’s Secret might be sold, rising more than 13% in early trading on Wednesday. Key background: Shares of Victoria’s Secret parent company, L Brands, fell 29% last year, compared to the S&P 500’s almost 30% positive return. Victoria’s Secret even canceled its marquee fashion show last year, as the company looked to cut back on costly marketing events. Tangent: Epstein reportedly used his ties with Wexner, whom he met in 1988, to gain access to wealth and women, according to a New York Times investigation. While Wexner remained largely unscathed from his Epstein ties, L Brands did hire outside counsel to review Epstein’s role in the company.

Source: Forbes January 29, 2020 14:01 UTC