Leslie Wexner, the billionaire behind Victoria’s Secret, is in discussions to step aside as chief executive officer of his retail empire and is exploring strategic alternatives for the lingerie brand, according to people familiar with the matter. The discussions are ongoing and could result in a full or partial sale of Victoria’s Secret, some of the people said. The chain, with about $7 billion in annual sales, has long dominated the U.S. lingerie market but has struggled in recent years with falling sales. The company is...

Source: Wall Street Journal January 29, 2020 12:00 UTC