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China expels foreign journalists as coronavirus deaths climb Al Jazeera EnglishChina Expels 3 Wall Street Journal Reporters as Media Relations Sour The New York TimesBanished in Beijing The Wall Street JournalRetaliate against China's media expulsions Washington ExaminerChina Expels Three Wall Street Journal Reporters The Wall Street Journal
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 (Bloomberg) -- L Brands Inc. is close to selling a controlling stake in its Victoria's Secret brand to private equity firm Sycamore Partners in a deal that values the lingerie brand at $1.1 billion, Wall Street Journal reported citing unidentified people familiar with the development.Sycamore Partners is expected to buy 55% in Victoria's Secret in a transaction that with L Brands and retain 45% in a separate firm that will include the young-adult focused Pink chain, according to the newspaper. L Brands' billionaire founder Leslie Wexner will step down as chairman and chief executive officer, WSJ said. The deal could be announced as early as Thursday.Wexner, 82, and the longest-serving chief executive officer on the S&P 500 Index, may remain on the board of L Brands and retain stake in both the companies.The transaction follows years of scandal and slumping sales at the lingerie chain. The Columbus, Ohio-based firm has struggled to mend an image tarnished by allegations of misogynistic culture under Ed Razek, its controversial former chief marketing officer, as well as lingering questions about Wexner's relationship with late convicted sex offender Jeffrey Epstein. Wexner says Epstein defrauded him.Lost GroundVictoria's Secret, still tied to the push-up bra aesthetic the company projected for many years, has lost ground to competitors that market their products as comfortable and body-positive. A broader retail shift to e-commerce and away from shopping malls has also dealt a blow.After this sale, L Br
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 Tivity Health Inc. shares dropped in the extended session Wednesday after the Nutrisystem and South Beach Diet products company's results and outlook missed Wall Street estimates and its chief executive resigned. Tivity shares dropped 33% after hours, following a 0.3% rise in the regular session to close at $22.93. The company reported a fourth-quarter loss of $323.1 million, or $6.69 a share, compared with earnings of $28.5 million, or 67 cents a share, in the year-ago period. Adjusted earnings were 40 cents a share. Revenue rose to $272.8 million from $153 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 55 cents a share on revenue of $275.2 million. Tivity expects revenue of $335 million to $350 million for the first quarter, and $1.24 billion to $1.29 billion for the year. Analysts had forecast revenue of $369.8 million for the first quarter, and $1.34 billion for the year. Tivity said that Donato Tramuto resigned as chief executive and from the board and that board member Robert Greczyn will serve on an interim basis until a replacement can be found. Tivity also said Keira Krausz, the head of its nutrition business, which recorded a $377.1 million non-cash charge in the fourth quarter, resigned on Tuesday, and that Chief Operating Officer Tommy Lewis will head the business on an interim basis.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Judges postpone emergency meeting to discuss Trump, Barr: Report Al Jazeera EnglishTrump Takes Up Call for Barr to ‘Clean House' at Justice Dept. The New York TimesTrump's thumb on the scale of justice: A Q&A with former U.S. Attorney Paul Fishman NJ.comWhy Trump Needs Bill Barr The Wall Street Journal
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IMAX Corp. shares rose 5% in after-hours trading Wednesday after the theater chain reported fourth-quarter earnings that beat Wall Street estimates. IMAX reported net income of $21.4 million, or 29 cents a share, in the quarter, compared with net income of $3.8 million, or 3 cents a share, in the year-ago fourth quarter. Revenue jumped 14% to $124.3 million from $109 million a year ago. Analysts surveyed by FactSet had expected net income of 28 cents a share on sales of $117.4 million. IMAX shares are down 20.4% over the last 12 months. The broader S&P 500 index has gained 21.6% in the last year.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Russell A. Colombo is President and Chief Executive Officer of Bank of Marin Bancorp. He is a lifelong resident of Marin County in the San Francisco Bay Area. Mr. Colombo joined Bank of Marin in 2004 as Executive Vice President and Branch Administrator after 29 years in banking at Comerica Bank, Security Pacific and Union Bank […]
The post Marin County: the Most Beautiful Place in the United States Has its Own Bank appeared first on The Wall Street Transcript.
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Boy Scouts says it's safe, and offers sex abuse victims just 80 days to file claim. Victims balk. USA TODAYGirl Scouts' reminder: We're not affiliated with the Boy Scouts Atlanta Journal ConstitutionBoys Scouts' Accusers Want Abuse Details Revealed in Bankruptcy The Wall Street JournalWhat the Boy Scouts taught me The Washington Post
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