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Limited Brands to sell majority stake in Express fashion, cuts Q1 & FY2007 forecasts

Found in: News & Observations
Tuesday
May 15, 2007
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CNBC television is reporting that Limited Brands has made three headlines:

- Limited Brands has reached an agreement with private equity firm Golden Gate Capital to sell a 67% stake in the Express brand for $548m

- They are still exploring “strategic options” for Limited Stores

- They have slashed their Q1 earnings forecast in half from $0.25 – 0.28/share to $0.12 – 0.14/share.

LTD Stock has reopened after being halted at $27.14 at 2:27 and has immediately dropped to around $26.

More from CNBC and a just issued press release by Limited Brands.

Limited Brands stock halted pending news

Found in: News & Observations
Tuesday
May 15, 2007
No Comments

CNBC television is reporting that Limited Brands stock (LTD) has been halted on the NYSE pending breaking news.

Jim Cramer on CNBC’s “Street Signs” speculates that they could be going to announce some sort of spinoff.

Speculation lately has been that the chain was shopping the under performing Express Fashion and Limited stores to potential sellers. Previous spinoffs from Limited Brands have included Abercrombie & Fitch, Lane Bryant, Lerner New York, & Limited Too/Tween Brands.

Could be an interesting shakeup to the mall landscape.