L Brands (LB, $12.06) to contest Sycamore Partners' notice to end Victoria Secret deal
L Brands announced that private-equity firm Sycamore Partners gave legal notice to terminate the agreement to buy the controlling stake of lingerie brand Victoria’s Secret.
Earlier this year, L Brands had said that it would sell a controlling stake in its Victoria’s Secret unit to Sycamore, valuing Secret at $1.1 billion. L Brands wanted to focus on its Bath & Body Works brand.
“Sycamore Partners delivered a notice April 22 purporting to terminate the transaction agreement relating to the sale of a 55% interest in … Victoria’s Secret,” L Brands said in a statement.
But L Brands believes that Sycamore Partners’ purported termination of the transaction agreement is invalid, and it intends to pursue all legal remedies to enforce its contractual rights (as indicated in the company’s statement).
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Notable companies
The most notable companies in this group are Home Depot (NYSE:HD), Lowe's Companies (NYSE:LOW), AutoZone (NYSE:AZO), Tractor Supply Company (NASDAQ:TSCO), Ulta Beauty (NASDAQ:ULTA), Best Buy Company (NYSE:BBY), Bath & Body Works (NYSE:BBWI), Five Below (NASDAQ:FIVE), RH (NYSE:RH), Advance Auto Parts (NYSE:AAP).
Industry description
The specialty stores sector includes companies dedicated to the sale of retail products focused on a single product category, such as clothing, carpet, books, or office supplies. A specialty store could face intense competition from big-box departmental chains, and therefore offering an adequate collection of the product type it specializes in is key in maintaining/growing its market.
Market Cap
The average market capitalization across the Specialty Stores Industry is 8.27B. The market cap for tickers in the group ranges from 48 to 380.15B. HD holds the highest valuation in this group at 380.15B. The lowest valued company is CALI at 48.
High and low price notable news
The average weekly price growth across all stocks in the Specialty Stores Industry was 96%. For the same Industry, the average monthly price growth was 97%, and the average quarterly price growth was 40%. XXLLY experienced the highest price growth at 14,080%, while NAAS experienced the biggest fall at -35%.
Volume
The average weekly volume growth across all stocks in the Specialty Stores Industry was -23%. For the same stocks of the Industry, the average monthly volume growth was 32% and the average quarterly volume growth was 142%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 46
P/E Growth Rating: 55
Price Growth Rating: 56
SMR Rating: 70
Profit Risk Rating: 75
Seasonality Score: 16 (-100 ... +100)