Victoria’s Secret parent L Brands Inc. said Monday it launched a new $250 million share repurchase program. The new program includes $10.3 million remaining from the previous $250 million program. L Brands has struggled of late as its Victoria’s Secret brand may be falling out of favor in a challenging and changing retail environment. Shares of the retail store operator, which brands also include Bath & Body Works and Henri Bendel, which were inactive in premarket trade, have tumbled 38% year to date, while the SPDR S&P Retail ETF has lost 6.5% and the S&P 500 has gained 12%.
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