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L Brands’ stocks decline over 5 per cent

Stocks of Victoria’s Secret owner L Brands declined by over 5 per cent after the recent announcement by China to impose retaliatory tariffs on US imports next month. L Brands, which also owns Bath & Body Works and Victoria’s Secret’s Pink brand, is heavily reliant on its Chinese suppliers, and counts the nation—along with the US, Sri Lanka, Vietnam, and India—as one of its main sources of imported goods. The brand plans to open another 15 stores in China, in addition to the 53 existing stores.

While China sales have lifted L Brands’ international business, the segment still only accounts for 6 per cent of the company’s overall sales, meaning that tariffs won’t necessarily be devastating. They could, however, put a damper on an already struggling brand’s plans to get a hold of a valuable market, and raise prices for its US customers

 
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