L Brands moves closer to spinning off Victoria's Secret

L Brands has registered the business name Victoria's Secret & Co. as part of its plan to spin off the lingerie retailer as a standalone publicly traded company in August. The move will separate Victoria's Secret and Bath & Body Works into separate companies. “We believe Victoria’s Secret and Bath & Body Works will achieve new levels of success and unlock significant value for all stakeholders by pursuing growth strategies best suited to each company’s customer base and strategic objectives,” said L Brands CEO Andrew Meslow.