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Victoria's Secret parent L Brands stock jumps after announcing plans to shutter Henri Bendel

L Brands Inc. LB, +5.58% stocks jumped nearly 5% in Friday buying and selling after the company announced plans to close down all 23 of its Henri Bendel shops and the posh chain's e-commerce website after the vacations. Henri Bendel shops come with its iconic Fifth Avenue store in New York City, and smaller-format shops across 11 states. "We are committed to improving performance in the business and increasing shareholder value," said L Brands leader govt Leslie Wexner in an after-hours statement. "As part of that effort, we have decided to stop operating Bendel to improve company profitability and focus on our larger brands that have greater growth potential." L Brands' portfolio also comprises Victoria's Secret and Bath & Body Works. Henri Bendel associates that stay on until January 2019 will likely be introduced retention bonuses and the risk to both interview for other positions on the corporate or settle for a severance package deal and process search services and products. L Brands expects Henri Bendel's 2018 income to total $85 million and its operating losses to total $45 million. L Brands stock is down greater than 52% for the 12 months up to now while the S&P 500 index SPX, +0.03% is up eight.6% for the length.

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