L BRANDS AIMS TO SELL OR SPIN OFF VICTORIA’S SECRET

L Brands Inc. intends to sell or spin off Victoria’s Secret by August as the company works to separate its beleaguered lingerie chain from the growing bath & body Works business. The company hasn’t determined the exact method for the split, but said Thursday that it’s reviewing “all options, including a spinoff of the Victoria’s Secret business into a public company or a private sale of the business.” The more-specific timeline comes after the board met with its financial advisers in January, L brands said. Chief Financial Officer Stuart burgdoerfer will also retire, the company said, although he will stay on to oversee the separation process. The company has promoted Martin Waters, head of Victoria’s Secret Lingerie, to take over as chief executive officer of the brand.