Victoria’s Secret parent L Brands will change its ticker to ‘BBWI’ starting August 3

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L Brands Inc.
LB,
+4.69%
has gotten board approval for the separation of the company into two publicly traded businesses. The company previously announced that Victoria’s Secret & Co. will include the namesake underwear brand, Pink and Victoria’s Secret Beauty. That company will trade under the ticker “VSCO.” The other business will be Bath & Body Works Inc., and starting on August 3 L Brands will trade under the ticker “BBWI.” The distribution of Victoria’s Secret shares will be complete after the market closes on August 2. L Brands stockholders will get one share of Victoria’s Secret common stock for every three shares of L Brands common stock held at the close of business on July 22, 2021. L Brands stockholders will not have to take action to receive Victoria’s Secret shares. L Brands shares were up 4.6% in Monday trading and have more than doubled, up 106.4%, for the year to date. The S&P 500 index
SPX,
+0.23%
has gained 16.6% for 2021 so far.

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