Analyst: Limited Could Sell Express
New York City, Limited Brands Inc. is likely to either overhaul or sell its 883-store money-losing Express chain within the next two years, according to a Banc of America Securities research note.
Investors liked the news. The retailer’s stock rallied 4% today to close at $21.37 per share.
Although Banc of America Securities considers a sale or an overhaul to be the most probable outcome for Express, the firm said “we think even shutting the business would make sense, given the division’s losses and the potential multiple expansion.”